Duplex BRRRR in Nashville

[Stephen Parker]

Investment Info:

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

Purchase price: $323,000
Cash invested: $10,000

Duplex BRRRR: Bought duplex, rehabbing it to rent, then refinancing.

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

Two properties in one address, on a concrete slab with brick construction.

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

Was an MLS deal and I offered slightly above ask price, all cash, no contingencies, 14 day close.

How did you finance this deal?

Cash to purchase. Will refi after rehab is complete and renters are in place.

How did you add value to the deal?

Completely rehabbed interior: Full kitchen gut, new flooring throughout. Bathrooms got a 50% rehab. Cosmetic and fixture updates through both units.

What was the outcome?

At the end of the rehab stage

Lessons learned? Challenges?

We had a break-in one night where a water heater and lighting fixture was stolen from one side. So I'm thinking more about jobsite security.

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

I was the Realtor on this deal and I re-invested my commission toward rehab expenses.