cash flowing over 2k a month with a BRRRR

[Stefanie Bergmann]

Investment Info:

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

we did a complete BRRRR on a very large single family that we now split into 3 units. we originally wanted to airbnb it but I found too many hurdles to work through. since it was already split into a 3/2 and 2 efficiencies, it now cash flows so well even as a long term rental.

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

I wanted to try Air bnb

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

I am a Realtor it was an MLS deal

How did you finance this deal?

cash

How did you add value to the deal?

complete rehab

Lessons learned? Challenges?

definitely wouldn't do this again anytime soon with such an extensive rehab. had a mild heart attack almost every day. we too away too long to rehab and lost a ton of profit.

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

I used myself as an agent so yes I'd recommend lol 😉

[Stefanie Bergmann]

hi nick! so definitely a major thing is 'you make your money when you buy"

this technically isn't a real BRRRR, because there's definitely a decent chunk of equity stuck in the deal.

I am ok with that, but if I had used hard money I would not be so okay.

Another big one is: hire fast construction people! we ended up missing the height of the market cause we were just too slow and we wasted a ton of money.

definitely a great learning experience and I have great cash flow now but this could have gone quite differently if we weren't in such a crazy market where the rents exploded.