Historic District Woes
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Aurora.
Purchase price: $175,000
Cash invested: $90,000
Actually a negative cash flow. One Parcel, two buildings, 4 apartments in historic district. Multiple infrastructure problems found and fixed. 2 long term tenants, 2 empty units.
What made you interested in investing in this type of deal?
4 units for less than the cost of 2
How did you find this deal and how did you negotiate it?
MLS via realtor
How did you finance this deal?
Conventional loan
Lessons learned? Challenges?
Never buy as-is; Do your homework on the property location and rules attached. Don't rely on due diligence of working with a licensed realtor.
