Updated over 4 years ago on . Most recent reply
Added to 2 more doors
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Smyrna.
Purchase price: $320,000
Cash invested: $120,000
Found this off market. Very good location. Current rent is 1300 one side and 1000 the other side. Plan to do small rehab and bring each side rent up to close to 1800 each.
What made you interested in investing in this type of deal?
Location
How did you find this deal and how did you negotiate it?
Worked with the seller and her listing agent in the past on other properties so the listing agent brought it to me before listing the property. I got it under contract at 340K and use inspection to negotiate 20K down.
How did you finance this deal?
Conventional loan
How did you add value to the deal?
Current rent is 2300 total. I will do the rehab once tenant move out and bring the rent up to 1800. Might even consider STR.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I represent myself.