Farmington BRRR Number 1

[Craig Weese]

Investment Info:

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

Purchase price: $163,000
Cash invested: $102,000

This is a 4-plex property I BRRRR'ed with only leaving $7,000 in the deal.

What made you interested in investing in this type of deal?

To be able to recycle my money for further investments.

How did you find this deal and how did you negotiate it?

Found this deal from another agent before it hit the market. Negotiated $10K off the asking price at first and then once inspection occurred negotiated another $8K off purchase price and $7K in seller credit.

How did you finance this deal?

Traditional

How did you add value to the deal?

Increased bedrooms, updated units and added one unit in the basement.

What was the outcome?

Successful BRRRR

Lessons learned? Challenges?

Estimate rehab more detailed

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes I did. Contact me if you want more details!