My BRRRR Property In Scranton PA

[Abraham Berkowitz]

Investment Info:

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

Purchase price: $185,000
Cash invested: $25,000

I bought this 2 Unit plus a 3 car garage property, for 185,000, I invested a $25,000, and fill it up with tenants, for the main Apt of 3 bedroom 2 baths is rented for $1500, and the smaller Apt of 1 bed 1 bath is rented for $1,100, and the garage is rented for $400.

and I refinanced it and I took out all my money and now its cash flowing for $800 a month.

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

The property was in a nice condition, and i knew that I could take out all my money that I invested through the refi.

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

I found through Zillow and negotiated direct with the listing agent

How did you finance this deal?

DSCR loan

How did you add value to the deal?

I did a cosmetic rehab, a new painting and new flooring, and separated the heating, and did a few touch ups in the baths, and power washed the front siding.

What was the outcome?

I have a $800 cash flow without taking out money from my pocket, and I am building wealth through the tenants paying up my debt, and the property is appreciating.

Lessons learned? Challenges?

Did there is a possibility to find good deals through the MLS

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

Yes, I am hooked up with great real estate brokers wha I have a great relationship, and great lenders, and great contractors.