Small multi-family (2-4 units) buy & hold investment.
Purchase price: $140,000
Cash invested: $28,000
Each side is a 2 bed / 1 bathroom unit. Shared washer and dryer
What made you interested in investing in this type of deal?
The ability to cash flow on day 1
How did you find this deal and how did you negotiate it?
Found a trusted realtor and had my sister-in-law to view the properties
How did you finance this deal?
Traditional bank financing
How did you add value to the deal?
Added wash and dryer
What was the outcome?
Higher rents and better tenants
Lessons learned? Challenges?
Make sure the area you are looking in is good for renting
@Ellie Johnson how much are the units renting for? For $140K, was there work that needed to be done on the property?
We did not do anything to the property before renting it out. The units each rent for $950. So far, we had to replace a wash/dryer and build a shed in the back to store the lawn mower.
Looks like a nice property that will cash flow very well.
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