Deal Case Study
South Bend, Indiana
A complete transformation using the BRRRR investment strategy.
Every investment begins with identifying opportunity where others see challenges.
We acquired this property with a clear objective: transform an underperforming home into professionally managed housing while creating long-term value through disciplined execution. By combining thoughtful renovations, standardized finishes, and an efficient construction process, we repositioned the property as a quality long-term rental while significantly increasing its value.
We acquired the property for $68,400 after recognizing its long-term potential despite its condition.
Approximately $60,000 was invested to completely renovate the property, including an updated kitchen and bath, flooring, paint, lighting, mechanical improvements, and finishes consistent with Charger Property Management standards.
Upon completion, the property was leased as a professionally managed long-term rental for $1,850 per month.
Following stabilization, the property appraised for $215,000. Through a 75% loan-to-value refinance, we recovered our invested capital and positioned ourselves to continue growing the portfolio.
Rather than selling the property, we retained it and redeployed the returned capital into future acquisitions, allowing us to continue expanding while maintaining long-term cash flow.
Exterior
Before
After
↔
Drag the handle, or use the arrow keys. Same camera position, same retaining wall, same steps.
Bathroom
Before
After
↔
Tub on the left, vanity on the right, in both frames. Subway tile, black fixtures, and a new vanity replaced the original fittings.
Kitchen
Before
After
↔
Shot from the living room through the same opening. The drop ceiling and carpet came out, the wall cabinets and counters went in.
Living Room During renovation
During
After
↔
The only frame of this fireplace from this angle was taken mid-renovation, so it is labelled honestly as a during shot rather than a before.
Condition at Acquisition
