My first deal a 4-plex
Investment Info:
Small multi-family (2-4 units) other investment.
Purchase price: $157,000
Cash invested: $75,000
4 units all fixers got them done and plan to refi and look for another deal
What made you interested in investing in this type of deal?
distress = value.
How did you find this deal and how did you negotiate it?
it was on the msl. This was my first deal so I did not negotiate as hard as I should have. The seller would have sold for less. I should have done more home work, lessons were learned.
How did you finance this deal?
Lucky this was a all cash deal.
How did you add value to the deal?
I fixed up all units and am adding a mobile trailer.
What was the outcome?
I got the units rented and am waiting on the trailer.
Lessons learned? Challenges?
Some times the best deal is no deal. Over do your homework.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
n/a