BRRRR It's getting cold in here

[John Bonhomme]

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $91,500
Cash invested: $112,000

Finally Finished Reno on this 3 Family
Perfect BRRR property
Should ARV in the 300's
Currently in the process of Refi and being rented
Will take a break from construction for a while. Very difficult with full time job and COVID material delay's etc.

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

I saw there was opportunity to renovate this in an appreciating market for below market cost

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

MLS. Bought it as a package deal and let go of the rest of the package because it wouldn't be financially smart.

How did you finance this deal?

Profits from sale

How did you add value to the deal?

Did a lot of work myself. Experience with renovating in this neighborhood.

What was the outcome?

So far so good.

Lessons learned? Challenges?

COVID was extremely difficult during this entire reno.
Material Delays, Utility company backup delays. Weather. Etc.