Multi-Family BRRR aquired for $40k $135k arv

[Terrell Hill]

Investment Info:

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

Purchase price: $40,000
Cash invested: $20,000

Duplex 2+2 w/ lot attached separate parcel. BRRR in place re-hab 90% complete.Tenant in place in second unit $675 p/mo. Making 2 efficiencies on 1st floor. Future 1st fl rents $600+$600. ARV for building excluding lot. $135K.

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

Easy cashflow with separate parcel

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

Keeping myself known as an investor. Deal fell in my lap

How did you finance this deal?

Private money. Paying investor %10 to hold purchase money for 12mos.

How did you add value to the deal?

Re-hab. 1st floor new kitchen and bath. 2nd floor carpet new bath.

What was the outcome?

Currently finishing up to Re-Fi

Lessons learned? Challenges?

Keep your contractors close

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

N/a