My First Duplex BRRRR

[Joey Hicks]

I'm purchasing my first BRRRR. Close March 26th. It's a duplex that currently rents for 1-2 bedroom $400 and a 1-1 bedroom $450. The 2 bedroom tenant will be moving out this today. All ready have a tenant set to move in next week. Rents will be bumped up to $700. I will be turning the walk out basement into a 3rd unit with 1 bedroom. My plan is to have the current 1 bedroom tenant move to the basement. Then rehab his unit and increase the rent to $500. Giving me a total rent of $1650. I have negotiated in the coin operated washer and dryer that hasn't been installed yet. This will help me recoup some of the water bill I will be paying. After, the refinance I'm looking at $600 in cashflow and 37.5% COC return.