10-Unit Multifamily BRRRR Infinite Cash on Cash

[Matthew Masoud]

So I purchased a 10-unit building in a small suburb near Dayton, OH. Purchased the property for $600k.

$150k down, $450k mortgage.

4 out of 10 units were empty.  The remaining 6 units had below market rents.

I purchased the property and put $50k into renovating/renting vacant units. 

Took almost 6 months to rent the vacant unit and get existing tenants to market rent.

All in $200k.

The bank just appraised the property for $950k

I did a cash-out refinance for $225k.

 The deal still cashflows and I got all my money back plus $25k.

[River Sava]

Awesome!! 

Congrats on this, Matthew. Think you are going to stay in the MF space?