First deal was a full BRRRR triplex!

[Nolan Gottlieb]

Investment Info:

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

Purchase price: $122,500
Cash invested: $55,000

This was a BRRRR property in Commerce, GA. It's a triplex.

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

I was ready to get started investing and saw this deal pop up. Knew I had to jump at the opportunity.

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

This deal was on the MLS for $125K and got it UC for $122,500.

How did you finance this deal?

Hard money loan into a BRRRR.

How did you add value to the deal?

Cleaning, painting, fixing walls, rewired the entire property, installed HVAC.

What was the outcome?

Full BRRRR with an $8K check at closing.

Lessons learned? Challenges?

Hard money loans!! Make sure you understand the draw process. I wasn't ready for it and it surprised me.

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

I'm a licensed agent and this property was on market.