BRR Investment Success

[Conner James Hardin]

Investment Info:

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

Purchase price: $154,000
Cash invested: $25,000

This was a poorly Managed duplex in the heart of Miamisburg Ohio. Now Bare with me as this is my first post and ill keep it short and sweet. I bought this looking to BRR this and keep things moving. One unit was in great shape and had a great tenant the other not so much. The bad unit was rehabbed and we moved in a new tenant. The project was a success as we bought for $154,000 had $25,000 in rehab cost and appraised at $215,000 on a cash out refi. Long story short value was added. Thanks!

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

The numbers worked and the deal made sense to do

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

MLS and I am a Realtor in the state of Ohio

How did you finance this deal?

Cash and then cash out refi

How did you add value to the deal?

Rehab the entire property and added new fence landscaping and furnace and hot water heaters

What was the outcome?

We made money on the deal by cash of refi.

Lessons learned? Challenges?

To many to name, but to name a few having a great team and building that team can mean the difference in making money and not!

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

Myself!