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Updated almost 7 years ago on . Most recent reply

User Stats

6
Posts
4
Votes
Oliver Hellested
  • Property Manager
  • Cranston RI
4
Votes |
6
Posts

Can you use the BRRR methond on a 6 family?

Oliver Hellested
  • Property Manager
  • Cranston RI
Posted

Hello,

I recently identified a 6 family property that is being mismanaged. The owner paid utilities/expenses are high. On top of that the rents for each apartments are roughly 100-150 under market rents on a conservative side. I am estimating that I am going to be able to raise the NOI roughly 6k-10k annually. My question is what suggestions does everyone have on how to access this newly added value. Preferably at a minimum I would like to be able to pull out my initial investment of 25%.

Appreciate everyone's help!

Oliver  

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