Small multi-family (2-4 units) buy & hold investment.
Fixing my family property that I inherited and is paid-off, it is a 3 story mixed residential-commercial property that needs lots of work. Evaluating the best use of the property.
Keeping it as a 2 unit property, 1st FL is Commercial Unit and combined 2nd and 3rd FL is 2nd OR
Changing it to a 3 unit property, 1st Fl is Commercial the Unit, 2nd FL is its own unit and the 3rd FL is the final 3rd unit.
Once use of property is defined, then rehab, rent out, refinance and repeat is the goal.
What made you interested in investing in this type of deal?
Phila housing market is booming and this property has been sitting here not doing anything. This is my path to execute the BRRR method and doing something for my career.
How did you find this deal and how did you negotiate it?
It is my family property that I got. It has a lot of issues, so I have to deal with it as part of receiving it.
How did you finance this deal?
Still figuring this out.
How did you add value to the deal?
Still figuring this out
What was the outcome?
Still in progress
Lessons learned? Challenges?
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
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