We paid $5,000 for this house | Before & After Renovation
Austin Flipsters・2 minutes read
Lauren and Lincoln bought a rundown house in Brownwood, Texas for $5,000, renovated it for $98,000, and plan to rent it out for $1,100 per month, with a projected cash on cash return of 26.5% due to the strong rental market in the area.
Insights
- Lauren and Lincoln are transforming a dilapidated house in Brownwood, Texas, into a rental property, facing significant challenges like code violations and city demolition threats.
- Despite the initial $5,000 purchase price, the total investment in the property, including renovations, amounts to $98,000, with a projected monthly cash flow of $177 and an impressive yearly cash on cash return of 26.5% due to Brownwood's robust rental market.
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