Updated 4 days ago on . Most recent reply
My 8th BRRRR Property In Scranton PA
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $150,000
Cash invested: $150,000
We bought this property for 150K as a 2 unit on October 2024, and we converted it to a 3 unit, this property was in a really bad shape, and we completely renovated it, we finished the renovation on May 1 2025, we refinanced and we took out almost all our money, now this is a great cash flowing property of $1485 a month, we separated all utilities so this is cash flowing beautifly.
What made you interested in investing in this type of deal?
This property was in a bad shape and needed a renovation and we saw that we will be able to BRRRR it successfully as we did.
How did you find this deal and how did you negotiate it?
Through the MLS, it was listed for 180K we negotiated down to 150K, the seller was desperate because there was a prior buyer that failed to close.
How did you finance this deal?
Hard Money
How did you add value to the deal?
We approved it from a 2 unit to a legally 3 unit, and we renovated up to date.
What was the outcome?
We took out almost all of our cash that we invested, and it's cash flowing beautifully.
Lessons learned? Challenges?
When we went in to the property we quit underestimated the scope of work and the cos of the renovation, and we learned to do a more through investigation in particular when it comes to gutted distressed properties.