BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated about 1 year ago,
Duplex / BRRRR / WWYD?
Hello. Detroit investor here! I have one single family home and in search for my second rental property. Currently, interested in a recently toured brick duplex to BRRRR. One side is vacant which looks like mainly cosmetic work (can easily get $1000/month). The other side (well maintained) is rented by a 10-year paying elderly tenant that is only paying $500/month.
Questions
-"Can" you still BRRRR/does it make sense to BRRRR when you can only add value to one side of the duplex?
-In general, what is the suggested way to increase rent when going into a situation like this where the tenant is paying significantly lower than market rate?