MF Success story (Phenix City AL, Columbus GA)
Hello Bigger Pockets Family,
Finished these two duplexes up a few months back (in Phenix City AL, Columbus GA area) but never posted about it. Although it is a success story, i went through every worse case scenario possible including firing several contractors, lawsuits, busting budget, bad appraisals etc.
This has without a doubt been the absolute toughest project to date by far but i loved every second of it. Though it was the toughest project by far, its also been the most rewarding by far and not just financially. Yes it cash-flows great (a little under $1200 a month, 29% cash on cash return), but the support and positive acknowledgement i received from the community for transforming an eye sore to a diamond was worth millions. Additionally, the knowledge, experience, and confidence received has already paid huge dividends in the renovation of another project.
Have been writing offers on other multi families the past few weeks. Hope to have something under contract by December (BP end of year challenge).