BRRRR Deal in Tacoma, WA

[Gervon Simon]

Investment Info:

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

Purchase price: $353,000
Cash invested: $55,000

I just closed on this fixer-upper duplex in Central Tacoma! I got a hard money loan on it and I'll come out of pocket about $55,000. I'm conservatively estimating the ARV around $550,000 and I believe I can pull in $4,500/month in rent when I list it for travel nurses. This will be my first intentional BRRRR. Feel free to reach out to ask questions about my journey!

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

I used to live in the house next door and I became friends with the tenant. The tenant's landlord was his uncle and he let me know they were going to be selling the home through a guardianship. I stayed in touch after I turned that home into a rental property and got in touch with the guardian for the estate and purchased it completely off market.

How did you finance this deal?

I used a hard money loan.

How did you add value to the deal?

Complete interior and exterior renovation (renos are still underway).

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

I'm a Realtor! I understand the market better than the average investor let alone person and I used that to capitalize on a great opportunity.