Duplex BRRRR in Portland

[David D'Errico]

Investment Info:

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

Purchase price: $5,000
Cash invested: $5,000

Contributors:
Kenton Monohan

Large Duplex in the Portland Neighborhood. Off Market deal purchased for $5K with a rehab Budget of $50K....Potential Gross rent 1300-1500/month. Potential to BRRRR and pull out Equity!

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

Its in an area were we have other rental properties and has the potential for great cash flow.
We like taking on these Big rehab projects.....You learn so much!
We hope to BRRRR this property....and use the profit to pay off another property!

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

Off Market with In-Laws (Competitive Advantage)

How did you finance this deal?

Cash Purchase. Bank Financed the rehab Cost.

How did you add value to the deal?

Full Rehab will produce a great ARV and allow us to pull all our cash out

What was the outcome?

Ongoing

Lessons learned? Challenges?

Staying on Budget

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

First Harrison Bank
Moser and Associates