Updated about 5 years ago on .
First Intentional BRRRR -
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Columbus.
Purchase price: $84,500
Cash invested: $24,500
BRRRRing it on!
Purchased this duplex that needs some attention to bring it up to today's standards. Will start renovating shortly before renting out. Cash-out refi to following, leaving some money in the deal.
What made you interested in investing in this type of deal?
great opportunity to brrrr.
How did you find this deal and how did you negotiate it?
MLS. offered above asking given the competitive market. haven't seen a comparable duplex listed this low since this one.
How did you finance this deal?
conventional down and cash for rehab
How did you add value to the deal?
We will be replacing flooring, cabinets, lights, vanities, toilets, paints, cleaning up the exterior, addressing the foundational needs and more!
What was the outcome?
Closed and waiting to begin renovations.
Lessons learned? Challenges?
Mold remediation is expensive...thankfully the seller covered it.
Purchasing with tenants in place always adds headaches.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Vince Iacobelli - great agent, easy to work with
Graham Nadler - lender who goes above and beyond to keep you on schedule for financing
