Northern Liberties Medium Term BRRR
Investment Info:
Townhouse buy & hold investment.
Purchase price: $142,500
Cash invested: $25,000
Contributors:
Eric Prine
We purchased 2 adjacent, tiny rowhomes in the Northern Liberties neighborhood of Philadelphia. They had previously been combined into one house. We separated them back into 2 properties. They were major BRRRR projects with the main exit strategy being to hold as medium term rentals. The projects finished up and we are super happy with the results. We spent about $80,000 each on renovations and they appraised for $350k each. We have been doing medium term for a few months with less success than we hoped. This one will become a Section 8 long term rental.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Eric Prine
