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Updated over 2 years ago,

User Stats

36
Posts
26
Votes
Clinton McGilvray
  • Property Manager
  • Zanesville, OH
26
Votes |
36
Posts

Near perfect BRRRR!!

Clinton McGilvray
  • Property Manager
  • Zanesville, OH
Posted

Investment Info:

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

Purchase price: $45,000
Cash invested: $60,000

Duplex purchased for 45k, one unit occupied, rented for $500. 15k rehab, both units now occupied, gross rents $1,450. Appraised for 73k, cashout refi'd 58k. 400%+ CoC and 46% return on equity.

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

I'm a realtor and property manager in the local area. I am building my own personal portfolio.

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

On the MLS.

How did you finance this deal?

Purchased and rehabbed with a line of credit.

How did you add value to the deal?

Replaced the furnace and A/C units and a light rehab on the vacant unit. Occupied unit is Section 8 so bringing them up to market rents is hardly noticed by the tenants.

What was the outcome?

Completed BRRRR, left $1,600 in the deal so cash on cash is 400%+, putting $500 in my pocket every month(cashflow and I self manage). Return on equity is still 46%

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