Tri-plex with potential to increase value
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $120,237
Cash invested: $25,308
Tri-plex with two 1bd/1ba and one 2bd/1ba units. One unit is updated and other two need updates. Plan to update both other units when current tenants move out.
What made you interested in investing in this type of deal?
Great cashflow and potential for forced appreciation.
How did you find this deal and how did you negotiate it?
Zillow. Standard offer through realtor.
How did you finance this deal?
Commercial Loan with 20% down
How did you add value to the deal?
Plan to rehab the two 1 bedroom units
Lessons learned? Challenges?
I may not have offered as much or would have negotiated a lower price after the inspection.