Second investment property

[Michael Bertrand]

Investment Info:

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

Purchase price: $102,900
Cash invested: $102,900
Sale price: $102,900

Duplex, 1/2 fully rehabbed, 1/2 unrehabbed

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

Wanted to try a BRRR type of deal. 1/2 of this duplex is fully rehabbed and vacant, the other side is not rehabbed and tenanted currently. Plan is to see what the rehabbed side rents for, then fully rehab the other side to match and then pull cash out.

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

Through a turnkey provider in Dayton, OH. They also let you purchase properties through them that aren't rehabbed yet so you can do your own BRRR through them using their rehab crew, PM, real estate agents, etc.

How did you finance this deal?

N/A, plan to do delayed financing on this property and pull cash out.

How did you add value to the deal?

Will eventually rehab this property.

What was the outcome?

So far so good, just started marketing the vacant side. We’ll see what it rents for.

Lessons learned? Challenges?

It’s WAY simpler to pay cash for a house, but you can’t take advantage of leverage that way. Just trying some things out, taking some small risks.