Six Unit Multi-Family BRRRR

[Cole Starin]

Investment Info:

Large multi-family (5+ units) buy & hold investment in Tuppers Plains.

Purchase price: $550,000
Cash invested: $450,000

6 unit multi-family BRRRR. Housing two STRs and four LTRs

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

Building located in neighborhood I had been interested in from the beginning of investing career.

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

Found the deal through my network. Was able to get a meeting with the seller and negotiated using evolving knowledge of construction and deal analysis in addition to discovering seller motivation through direct contact.

How did you finance this deal?

Private money and personal funds.

How did you add value to the deal?

Full gut renovation, including but not limited to full replumb, full rewire, complete mechanical upgrades, and new apartment finishes from studs.

What was the outcome?

Valuable and soon to be life changing profitability

Lessons learned? Challenges?

Renovation of commercial buildings and the challenges they encompass to become profitable assets to hold within portfolio.