Fifth Purchase - 3 Family Longer Term Flip/Usage Change
Investment Info:
Small multi-family (2-4 units) fix & flip investment.
Purchase price: $128,000
Cash invested: $38,000
Sale price: $189,000
7 beds 2.5 baths 2,624 sqft
What made you interested in investing in this type of deal?
This was a mixed use property we knew we could change the usage to residential with minimal work
How did you find this deal and how did you negotiate it?
This was on MLS with an agent I am friends with
How did you finance this deal?
Hard Money
How did you add value to the deal?
changed usuage to residential and converted the first floor to a residential unit with a few walls and doors
What was the outcome?
We cashflowed the entire time thanks to the top 2 tenants and sold at a profit
Lessons learned? Challenges?
Make sure you get the right contractor with a good track record
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Hard Money Lender, Listing agents on purchase and sale, Home inspector
