$500k+ Equity BRRR Deal
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Boston.
Purchase price: $1,550,000
Cash invested: $385,000
Contributors:
Enis Shehu
Building Details:
4 Floors
Total Area: 6380 SqFt
3 Legal Units
Previous Unit Breakdown: 2 Bed /1 bath for top 3. Basement was 1 bed /1 bath
Current Unit Breakdown: 4 Bed/2 Bath for all units.
Changed occupancy to a Legal 4-unit
Summary:
Purchase Price: $1,550,000
Rehab: $385,000
ARV 4 Unit: $2,500,000
Equity Created: $500k+
Projected Monthly Rent Roll: $17,500/month
Projected Monthly Cashflow: $3,328/month
Lessons Learned:
During a gut rehab of a multi family, you can sub meter the water to each unit. Passing the water cost to the tenant. The cost is negligible but the savings over the years are massive.
Sprinkler Challenge (Timing)
Understanding Zoning & Timeline
Demo Challenge in Boston. Very challenging and expensive.
Projected Rent Numbers on Rent.
