Fort Worth Duplex BRRRR

[Blane Morgan]

Investment Info:

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

Purchase price: $180,000
Cash invested: $66,000

Bought a Duplex using the BRRRR Strategy and recently refinanced the property. I rehabbed one side of the property while the other side was being rented out.

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

Up until this point, I had only invested in SFR's and I wanted to venture into Multi-family.

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

I have a local Realtor that I use to get rental comps on properties.

How did you finance this deal?

Local Bank

How did you add value to the deal?

Rehabbed one side of the duplex to get full rental value on the property. I recently renovated the Bathroom in the other property.

What was the outcome?

The rehab went over budget as usually happens, but not by much. I did not do enough due dilligence on the Tennent and they have since been evicated.

Lessons learned? Challenges?

So many lessons. Due your due diligence on tenants. It is so much better to wait for the right ones, than to get a tennent into a property.

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

Judy Plannas in Fort Worth is an outstanding Realtor with a background in Construction.