My first BRRRR deal.

[Brendan Winans]

Investment Info:

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

Purchase price: $131,000
Cash invested: $151,000

Duplex in a high rental area. Did a nice remodel and procured two tenants at $825 each. Bought cash with the goal to do a cash-out refi. in 6 months (Feb.). Current comps indicate we will be able to pull out $30K more than we have invested. Not bad for our first BRRRR!

How did you finance this deal?

No financing yet. Bought cash, we intend to do a traditional loan in Feb.

How did you add value to the deal?

Seller was looking to liquidate as the property was vacant, beat down, and getting broken into. The first thing we did was put a 7' wrought iron gate around the property. From there it was your typical cosmetic rehab to bring it up to its original luster.