Rental Property #5!!!

2 Replies

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $140,000
Cash invested: $36,000

This was a 4 bedroom rooming house purchased with a large footprint. We will be converting a large living room into a 5th room by closing off a door and adding a closet for added profit cashflow. This was a turn key property that works well by renting to employees at our local shipyard. The awesome part was that we closed on the 11th and had our first tenant secured by the 25th!

What made you interested in investing in this type of deal?

A niche market in my area is in single room rentals. This property had space for a 5th bedroom (the max allowed in my city) and the opportunity to cashflow at over 1,000 per month.

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

We will be closing off one of the entry doors to a large living room (the house also has a spacious dining room area) and adding a closet to create a 5th bedroom.

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