Two units in a desirable area

[Account Closed]

Investment Info:

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

Purchase price: $345,000

Cash invested: $85,000

I did a BRRRR and bought a property in the dead of winter that had been rejected from the market.

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

I had money to reinvest from a BRRRR and was running out of time due to an upcoming deployment. We found this property in rough shape mold downstairs, asbestos flooring, and an apartment outback with leaky pipes and about a foot of ice on them.

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

Negotiated the price down because if someone was going to have all this work done it would cost big bucks.

How did you finance this deal?

20% down

How did you add value to the deal?

Sweat Equity

What was the outcome?

A nice renovation and great tenants

Lessons learned? Challenges?

Time is finite