My first multi family duplex BRRRR

[Quincy Adams]

Investment Info:

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

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

Duplex, one unit that needs a rehab in the kitchen and bath, a budget of $25K. Units will rent at $700 each once completed. Rehab should take 3 weeks (pretty minor). Full investment is $75, with an ARV $95K. Refinance it, pull the money, and repeat the process

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

It fit my criteria of Cash on Cash return, and BRRRR. I got it for $20k than asking price which in turn gave me room to BRRRR.

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

Through my PM, negotiated through my realtor and contractor

How did you finance this deal?

Cash

How did you add value to the deal?

Investor

What was the outcome?

Still in the process

Lessons learned? Challenges?

Always find out if it needs flood insurance, offer less.

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

Yes