Updated over 5 years ago on .
Oleander BRRR - Future Duplex!
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Bakersfield.
Purchase price: $118,500
Cash invested: $21,000
Purchased this property as a Short Sale and used the BRRR method as well as OPM to purchase. I used my own cash for the rehab and after the rehab was completed, the property appraised for $185k. I was able to pull out $135k to pay off the private loan and recoup my rehab cash. I am currently working on converting the garage into a 1 bed/ 1 bath apartment.
How did you finance this deal?
OPM and cash saved.
How did you add value to the deal?
We took the 1200 sq ft house from a 2/1 to a 3/2 by converting the large kitchen into a Master Suite, Dining, Kitchen and Laundry Room (Yes, it was a VERY large kitchen).