BRRRRing a Medium Sized Multi-Family

[Ryan Wosick]

Investment Info:

Large multi-family (5+ units) buy & hold investment in Round Lake Beach.

This property was a medium sized (6 unit) multifamily property in Northern Illinois. I just finished flipping one unit and am currently working on rehabbing the other units one-by-one to BRRRR this property.

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

This property seems to be the perfect BRRRR for a multifamily. Each unit needs about $10k of work, but when all said and done it should refinance for $100k+ purchase price and maintain good cashflow.

How did you finance this deal?

Traditional Lending

How did you add value to the deal?

Each unit is being repaired and then having rents raised in order to increase NOI for a refinance.

Lessons learned? Challenges?

Finding good contractors that you can trust for a good price is key!