Doors 1-4. 4 unit multi in Sylacauga AL
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $225,000
Cash invested: $60,000
This was a huge step for us. We had one rental for about 8 years- our former primary residence. Learned a lot. Found this on MLS. 4 plex for 235000, purchased for 225000. Rents were 3 unfurnished for 675, one furnished for 750. Rents now are 675, 700, 700, and 775. 4 x 2 Bedroom 1 bath. Great timing as we have a 3.5% interest rate!
What made you interested in investing in this type of deal?
Listening to Bigger Pockets turned me on to multi-family.
How did you find this deal and how did you negotiate it?
Found it on MLS.
How did you finance this deal?
Conventional. Did a cash-out refi on primary for down paymnet.
How did you add value to the deal?
Haven't yet. Its in pretty good shape,
What was the outcome?
Been VERY HAPPY with this deal.
Lessons learned? Challenges?
Some large cap ex items on the horizon,,,
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am a real estate agent.
