Our first BRRR and it was a success!

[Michael Henry]

I would like to thank @Kyle Corkery for partnering up with me. 

4- 2 bedroom apartment building 

Purchase price: $103k ($100K private money)  Renovations and holding costs $47k. ALL in $150K 

Appraised $190K. The appraiser came out when the property was under renovation.  Cash out $147k. 

Fully rented at $2900/ mo. 

All new plumbing

upgraded electrical 

all new bathrooms 

lightly updated kitchens 

new roof,

1 new water heaters 

Used furnaces  

cold MLS has all the old photos. (photos side ways I know)

Old MLS Datasheet (MLS # 1491284)

[Michael Henry]

@Scott Harper - There are all new tenants - To be fair I rented the building to one single tenant who does assisted living. It is an NNN lease.