Little Red as I’m calling the home was a personal deal for my wife and I.

We sold an investment property a few months back and did a 1031 exchange into Little Red.

The main draw of the neighborhood is proximity to local trails in the Chautauqua area and Colorado University.

On the financing side we were able to secure a DSCR (debt service credit ratio) loan, which keeps the mortgage amount lower during these higher than desired mortgage rate times.

Moving forward on Little Red, we’re updating the kitchen and main bath areas, had moldy insulation removed and new insulation added, installed a radon mitigation system, replacing all windows,  and a few other minor updates to get it rental ready. I’ll do a post renovation post for those of you interested.

This process of buying homes in need of some love, updating them, and holding them versus flipping, has a fancy acronym that we’ve repeated many times throughout our investing career: BRRR, which stands for Buy/Rehab/Rent/Refinance

We’re not be doing the refinance part on this one, I’m happy to discuss the pros/cons doing that if you’re an interested BRRR investor!

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