BRRRR Ohio City (Cleveland)

[Dan Mitchen]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $120,000
Cash invested: $1

We bought this property as a duplex. We're currently converting it into a SFR, will turn it into an Airbnb, and then refi.
PP- $120,000
Rehab- $90,000
ARV- $330,000

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

High appreciating neighborhood and great airbnb neighborhood.

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

Agent friend

How did you finance this deal?

Private money

How did you add value to the deal?

Forcing appreciation through rehab.

What was the outcome?

Currently under reno

[Virginia Marphis]

You converted a Duplex into a SFH? In Reno NV, a Duplex yields more monthly income than a SFH. So, I'm guessing in Cleveland, that would be the opposite? Why the conversion?