Buying my first multifamily property in another state

4 Replies

Investment Info:

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

Purchase price: $117,500
Cash invested: $27,000

Bought rehabbed 4 plex

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

Better cash flow

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

I found it through a rehabber I was dealing with.

How did you finance this deal?

Private money

How did you add value to the deal?

Did minor improvements

What was the outcome?

Good cash flow

Lessons learned? Challenges?

Run the numbers. Figure out how you can buy and rehab the property for less money.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Andrew at Freeland Lending

Congrats @David Sailors

Woah - a rehanned 4plex for $117K. That's a deal if the neighborhood is good. Any more up there like it that are in a good area?

@David Sailors congratulations. What is the configuration (1bd/1ba, 2/1, 2/2, etc.) and what are the rents. Was it vacant or existing tenants? I really like the Dayton market. I ended up there by accident but have become a huge fan. It is a great investment environment.

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