$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
This is one of our long-term buy&Hold properties. A multifamily property in Cleveland Circle (Boston).
How did you find this deal and how did you negotiate it?
Off-market deal.
How did you finance this deal?
Local Bank - Commercial Loan
How did you add value to the deal?
Changing floor plans from 2 bed /1 bath to 4bed / 2 bath. Also making the 4th unit a legal apartment.
Lessons learned? Challenges?
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.
