BRRRR Fourplex - No Comps

[Zach Strickland]

I have a fourplex (1 single unit and a triplex) under contract that I plan to fix up and refinance. My biggest concern is that there are no similar comps in the area over the last two years and a large portion of my investment money will get tied up in one project. I'm curious to hear if you'd proceed with the deal based on the numbers below or bail.

Purchase Price: $220k

Down Payment: 25%

Loan Details: 4.125% fixed for 30 years

Taxes: $4,846 Yearly

Estimated Rehab: $60k - $70k

Monthly Expenses (Gas/Water/Lawn): ~ $250

Estimated Rent (post rehab): $3,200 -$3,500