OKC Duplex - Partial BRRRR

[Carter Still]

Investment Info:

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

Purchase price: $222,500
Cash invested: $27,000

Purchased a renovated duplex that was great looking but had many plumbing and amenity problems and was overpriced. I was able to negotiate the price down over $40K, repair the issues and add some additional amenities (Mini-splits to one of the apartments, Landscaping, dishwasher, washer and dryer for each apartment). This was my first time to allocate much towards landscaping, and it really paid off. Our basis was $256K, and it appraised for $312K. One unit is an airbnb and the other is leased for $1250/mo. The property typically nets $1000-$1400/mo after expenses.