Small multi-family (2-4 units) buy & hold investment in Huntsville.
Purchase price: $240,000
Cash invested: $65,000
First deal! By raising the rents to market raise, It'll be a little over a 7% CoC return. A+ school district makes this area very desirable area of Huntsville so it rents quickly.
Found agents on Loopnet. Interviewed them and described what I was looking for. One I worked with had a client liquidating his assets and needed to offload the property.
Here is the Zillow listing - https://www.zillow.com/homes/12005-Sugar-Mill-Cir-SE-Huntsville,-AL,-35803_rb/190833456_zpid/
What made you interested in investing in this type of deal?
rents were below market
huntsville is growing
A school district
How did you finance this deal?
Conventional mortgage using Better Mortgage
How did you add value to the deal?
How much are you getting in rent per unit? Are those 2/1s or 2/2s in your building?
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