First Deal 6 Unit Apartment Building

2 Replies

Investment Info:

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

Purchase price: $475,000
Cash invested: $95,000

Purchased for $475,000 with a down payment of about $90k. Spent about $30k on improvements and re-positioned the property with better tenants. Refinanced 9 months after purchase with a value of $630,000.

Thanks Jeff! for this first deal I just cold emailed a ton of commercial agents in my area. I shot out a ton of emails and only about 5 responded. Of those 5, only 2 actually started sending me deals. After a few months of looking at a few properties with one of the agents we located this deal. Subsequent deals have been sourced through a very good agent I connected with later. He leverages his network to drum up off market properties and provides a really solid deal flow for me. 

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