Brown St Duplexes - 3 Themes in a Successful Deal
The lessons from these three themes are what allowed us to successfully close the deal. Apply them them to your business!
Patrick Menefee
Sold! Estimated Profit - $61,100
The first purchase of 2020 was a little further into the year than I anticipated (thanks to two deals falling through), but it was a great one! Units 1-12 were all within an hour of Charlotte, but Units 13-16 are out near Fayetteville (just south in Hope Mills).
This pair of duplexes picked up from a wholesaler was fully occupied at close, in good condition, and at a huge discount. A friend and partner brought me this deal and we took it down with a 50/50 partnership, which made the deal very easy! Check out the stories and updates!
PURCHASE DETAILS
List Price: $125,000
Purchase Price: $115,000
Closing Date: May 31, 2020
Source of Deal: Wholesaler
Funding Source: Hard Money
Size: 1,550 sqft (each)
Estimated Rehab Cost: $3,000
Estimated ARV: $187,000
Bed/Bath: 4br/2ba (each)
SALE DETAILS
Sale Price: $213,000
Sale Date: February 17, 2021
Estimated Profit: $61,100
Total Rehab: $9,550
PICTURES
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