First deal was a full BRRRR triplex!
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.
