SFH and Duplex BRRRR

[Josh Goldstein]

Investment Info:

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

Purchase price: $199,000

Purchased from wholesaler. This purchase included a single family house and duplex. Fixed up one unit when a renter left and refinanced. The appraisal came back at 336k, so I was able to pull out 230k and use the profits towards renovations.

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

A lot of potential equity and would still cash flow well after refinance.

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

Purchased this deal through a local wholesaler.

How did you finance this deal?

Cash

How did you add value to the deal?

Yes, renovating one unit at a time as existing tenants moved out. 2 of the 3 have been renovated and the 3 tenant was okay with rent increase.

What was the outcome?

Refinanced and pulled 230k which paid back my capital and a renovations.

Lessons learned? Challenges?

It was my first wholesale deal which seemed scary, but worked out very well.

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

Formed a great relationship with this wholesaler.