Small multi-family (2-4 units) buy & hold investment.
Purchase price: $203,000
Cash invested: $10,000
1 b/b in NE DC. Found this wholesale deal on BP. I knew instantly it had plenty of value add equity. I'm using the BRRRR strategy and currently waiting to complete the refi.
Good find. Congrats.
Did you buy the whole duplex, or just half of one? What area was this in - Carver/Langston?
Update us after the refi! Great work-
@Douglas Harris great work and congrats! I live in Arlington and didn’t even know it was possible to find something like this in the city. Well done!
@Sean Mcmahon Also, what do you mean when you said you found the wholesale deal on BP? Did you connect with a wholesaler you met through BP or find this on the BP marketplace?
Hey congrats on the property. I’m new to this and I think I’m missing something, but can you explain how you were able to get a wholesaled house at $203k with only $10k invested? or was the $10k money you used for updates and construction? Thanks and good luck.
@Sean Mcmahon thanks. Check out @Greg Allen properties. He’s a great guy to work with! @Joe Proscia sorry I should definitely specify that the 10K I put in the deal was for rehab. I did have to pay a down payment, but using the BRRRR strategy I pulled the down payment from a previous property and will recoup the down payment after the refi.
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