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Updated about 5 years ago,

User Stats

184
Posts
87
Votes
Dennis Wasilewski
  • Real Estate Agent
  • Philadelphia, Pa
87
Votes |
184
Posts

Duplex BRRRR from summer 2018

Dennis Wasilewski
  • Real Estate Agent
  • Philadelphia, Pa
Posted

Investment Info:

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

Purchase price: $68,000
Cash invested: $25,000
Sale price: $125,000

BRRRR:
One (1) 3bed/1bath & one (1) 1bed/1bath duplex
Purchase Price: $68,000 , Rehab: $25,000 Appraised Value: $125,000

Early estimates, performed better than -
Monthly | Annual
Income: $1,900.00 $22,800.00
Mortgage Pay: $615.60 $7,387.18
Vacancy (5%): $95.00 $1,140.00
Management Fee (7%): $133.00 $1,596.00
Property Tax: $241.67 $2,900.00
Total Insurance: $133.33 $1,600.00
Maintenance Cost: $150.00 $1,800.00
Other Cost: $20.00 $240.00
Cash Flow: $511.40 $6,136.82

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

Power of BRRRR investing.

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

Found on Hubzu when it went to auction as a REO.

How did you finance this deal?

Cash and line of credit.

How did you add value to the deal?

Flooring, paint, lighting, HVAC updates, plumbing updates, new kitchen cabinets and appliances.

What was the outcome?

Returned near 100% of capital and property cashflows over $500 per month.

Lessons learned? Challenges?

Have contingency plans for when budgets grow.

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

Sheldon Zimmerman and Slatehouse Group!

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