Updated almost 2 years ago on . Most recent reply
Completed my first BRRRR!!
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $180,000
Cash invested: $120,000
Our first BRRRR was a quadplex outside of Atlanta. Bought for $180k in 2023, dumped ~$120k into the rehab (about double what we initially estimated), and raised rents from $525/unit to $1200/unit. The property appraised for $465k and we cashed out $348k to pay back our PML and use the rest as a down payment toward the next deal, a 6-unit we have UC.
Now it has long-term tenants in all four units that cashflow about $700/month. Learned a lot and caught the BRRRR bug!