NDSU BRRRR

NDSU BRRRR

The NDSU BRRRR sort of fell in my lap. When purchasing the 15-unit NOI Enhancement, the current owners had mentioned hoping to sell the house next door. Since the 15-unit was a stretch for me financially, I didn’t see a clear path to take down the house as well. Some local investors tied up the property for a great price and I figured that was that. Real estate is funny that way though and their transaction fell out. I was offered this property at their price and it was a bit too good to pass up.

 
Take a look at the before pictures below. This project was just completed and I should have after pictures up in the next few days. With a purchase price of $64,000 and a renovation in the 30’s, I should be able to refinance out 100% of the capital in this project and it will still cash-flow well above metrics as a rental. To learn more about this project or others like it, please reach out to me at steve@fourwallsrei.com