Small multi-family (2-4 units) buy & hold investment in Lorain.
Purchase price: $174,000
3,000 square feet. Duplex. 3 bedroom 1 & 1/2 bath one side with 2 car garage. 2 bedroom 1 & 1/2 bath other side.
How did you find this deal and how did you negotiate it?
I did a lot to research online about different areas population growth. I also, had to place over 9 bids prior to this deal as I did not want to put any money down including closing costs. I managed to find someone who really wanted to get out of the rental game and was more than happy to pay everything.
How did you finance this deal?
Va home loan
@Gage Coffman awesome!! Congratulations Gage. I look forward to seeing what you do next.
@Gage Coffman where did you find the seller
@Javaughn Harkness the MLS. I just did my trial and error and eventually found someone desperate to sell. Just have to hunt around pretty heavy for deals like that.
@Shane Shibles appreciate it bro! I’ll see you at the top 🙌🏻🤑
Nice job! Did you have a hard time finding a property manager? I'm endlessly searching for someone to do tenant placement services in Elyria with no luck. I'd like to self manage for the most part but need someone on the ground to hand off keys, showings, etc. PLEASE let me know if you have any leads.
We do full service property management
If you do not mind me asking:"Whats the cash flow on the property?
@Steven Goldman the cash flow will be somewhere between 600-700 after moving out. I’m currently house hacking.
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