Large multi-family (5+ units) buy & hold investment.
Purchase price: $2,500,000
BIG win with a 48 unit in Des Moines, IA located downtown next to a community college and close to a big hospital. Bought this with ZERO money down and walked away with cash back at closing. Great terms with a local bank. Sellers were not ready to sell earlier this year but when they changed their mind they knew I could close fast and easy. Awesome cashflow and great value add property. After some rehab work and a bump in rents this place should appraise for $3.8M+. On to the next deal.
How did you finance this deal?
Zero money down. Great banking terms.
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