Updated almost 3 years ago on . Most recent reply
Just Completed BRRRR of Triplex
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $40,000
Cash invested: $40,000
Sale price: $119,000
BRRRR of A Triplex
What made you interested in investing in this type of deal?
It's the only way to acquire properties. Have to buy distressed, use the HELOC from my primary home plus hard money to purchase and rehab, then refinance and pay everyone back and start over. Did 4 of these in 2022.
How did you find this deal and how did you negotiate it?
It's an off market deal from contact that I've gained from networking.
How did you finance this deal?
Hard money and HELOC on primary home.
How did you add value to the deal?
Did a rehab to all 3 units. Roof repair, cleaned up outside, and a lot of cosmetic work in the units.
What was the outcome?
Appraised at $119,000
Lessons learned? Challenges?
This was very smooth. Few surprises and contractor was excellent.