Pittsburgh BRRR 4/2 Duplex

[Robin Tanner]

Investment Info:

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

Purchase price: $80,000
Cash invested: $145,000

Turning a 3/2 into a 4/2 duplex for short term rentals.

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

It's a wholesale deal close to downtown and I want to build a portfolio of duplexes for buy and holds because of the ROI.

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

I found this deal through a wholesaler in my network and I negotiated with the wholesaler to get a lower price with the buyer because of an issue with an attached empty lot.

How did you finance this deal?

Through a hard money lender, but I will take out a DSCR loan in March to refinance.

How did you add value to the deal?

By adding an extra bedroom, and opening up the 2nd unit by restructuring some of the walls, switching around some of the rooms in the first unit to make it more inviting and give it a larger kitchen.

What was the outcome?

Pending

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

Yes, an investor agent, an experienced rehab contractor and a very experienced private HML that is also an investor, all of which provided invaluable guidance.