Renewed Development’s first deal

[Domenic Presutti]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Verona.

Purchase price: $100,000
Cash invested: $50,000

We used the brrrr method for this property. It appraised for $197k and we were able to cash out refi at 80%. Loan amount was $157k reimbursing us just about everything we put into it. We also increased rents to a total of $1900/month