Another BRRR project

[Aditya Soma]

Investment Info:

Large multi-family (5+ units) other investment.

Purchase price: $201,000
Cash invested: $450,000

Purchased a gut Property (as 4units residential + 1 commercial) for 201,0000 in an upcoming solid rental neighbourhood
Currently, in the process of renovating it top to bottom + converting commercial to 2 residential units
Estimated renovation cost: 200,000 + 25% buffer = 250,000
Expected rental income - 7500 total and tenants pay Gas + Hydro
based on 8 Cap ARV will be 650,000 +

Check out, walk through before renovations here
https://www.youtube.com/watch?v=owFuzPcwy3A

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

It allows pulling all the equity within less than a year

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

Founding it on MLS

How did you finance this deal?

My Investor who funded for my previous BRRR project we were able to all his cash out so now he invested back into this deal

How did you add value to the deal?

By renovating it

What was the outcome?

Still in progress, will update this session once done

Lessons learned? Challenges?

Still in progress, will update this session once done

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

Yes I did.