Buy and Hold Investment
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Tacoma.
Purchase price: $440,000
Cash invested: $135,000
This deal was bought with a partner. We bought two duplexes that are sitting on one lot in Tacoma. Purchase price 440,000 and appraised as a 4plex for $540,000 and needs roughly $25,000 of work. Our plan Is to sub divid the property so it will appraise as 2 duplexes and not 1 4plex. That will give us roughly another $100,000 in equity that we would like to fund another deal with.
What made you interested in investing in this type of deal?
The crazy cashflow and equity play. Also I was able to gain a great partner.
How did you find this deal and how did you negotiate it?
The deal came to me off market. An investor wanted out of his property and gave me first dibs.
How did you finance this deal?
Partner!
How did you add value to the deal?
I'm doing a lot of the hands on work dealing with tenants and learning a lot.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
David Quantrel the best relater around. Eddie Anderson I have used multiple times for my broker. He will make it happen for you.