This duplex was acquired from a wholesaler buy an out of state investor that had never seen the property in person. They paid $213,500 with an estimated renovation cost of $8,200 which was provided by the wholesaler. We were contacted during the due diligence phase to assist with assessing the property, rental values and the overall strategy. The original bid was very low and not accurate. We had the property properly assessed with a licensed contractor for $22,000 setting the correct expectations and budgets with the client. We saved them time and energy by making the proper repair recommendations for their budget and strategy with a qualified team. The renovation was completed within just a few weeks achieving high market rents and allowing the owner to refinance within the first year pulling his initial down payment out from the value being created. Years later we still manage the asset, no tenant turnover, consistent rent increases and a quiet property with few problems for our out of state investor. They continue to look for deals like this to repeat the BRRR strategy, buying, repairing, renting and refinancing! The value in today’s market would easily exceed $350,000.