First BRRRRR Investment

[Nathan Dehn]

Investment Info:

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

Purchase price: $85,000
Cash invested: $10,000

My mother in law and I invested in this BRRRR property in an up and coming neighborhood of St. Louis. The rehab took 8 months because of contractor fails and covid. It was a nightmare of a property but learned so many lessons! And the result? Bought for $85k , rehabbed for $70k, rented for $950/unit, and refinanced to only leave $15k in the property that appraised for $200k. Producing $300/mo cash flow.