2-unit BRRRR in SE TX

[Jason Turgeon]

Investment Info:

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

Purchase price: $70,000
Cash invested: $85,000

1031 from our prior 2 family. Will be using BRRRR strategy. Plan to document this one via a deal diary.

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

Have done a couple of other 2-unit properties.

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

Wholesaler brought it to me, negotiated for him to manage the rehab for no fee if I gave him his asking price.

How did you finance this deal?

Purchased cash with funds from 1031 exchange. Rehab mostly funded via private money at 9%, no points.

How did you add value to the deal?

Just getting started, plan is to rehab, split utilities, rent, and refi.

What was the outcome?

So far, so good.

Lessons learned? Challenges?

Just getting started.

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

Dave Foster, Adriel Hsu