Real Estate Broker · Mooresville, NC · Member since 2019 · 2 posts · 0 votes
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Mooresville.
Purchase price: $155,000 Cash invested: $10,000
This property has a single-family site built home and two mobile homes on it. The site built home is being rented indefinitely by the seller and the two mobile homes are being renovated to capture market rental rates.
What made you interested in investing in this type of deal?
Multiple rentals on one property and the opportunity to get it under market value.
How did you find this deal and how did you negotiate it?
An opportunity through my personal network.
How did you finance this deal?
Investment margin loan
How did you add value to the deal?
Knowledge of mobile home rental opportunity. Will spend some money renovating and be able to rent them for twice what she was charging.
Hey Chad, this is pretty much what I am trying to do for my first property. I have been trying to educate myself using BP for some time now and my uncle just offered to sell me a property that has three homes on it and they are all currently rented. He is still paying a mortgage on the property otherwise I would have asked for private financing. So in your opinion what is the best financing option for this type of property?