Deal Diaries

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Chris Good
  • Real Estate Agent
  • New Holland, PA
21
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28
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5 unit Brrrr in Pottstown PA

Chris Good
  • Real Estate Agent
  • New Holland, PA
Posted Jan 24 2022, 03:06

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $90,000
Cash invested: $130,000

5 One-bedroom apartments.

How did you find this deal and how did you negotiate it?

I found it on Facebook, i didn't negotiate the sales price because it was already a great deal.

How did you finance this deal?

Hard money.

How did you add value to the deal?

Painted all the apartments, updated a bathroom, replaced a roof.

What was the outcome?

I was able to refinance it and put 50K in my pocket, I refinanced it again in 2021 and pulled out another 50K. My loan payment remained the same because I was able to get a lower interest rate.

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