Updated over 4 years ago on .
3 Units South Lawrence
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $415,000
Cash invested: $103,750
3 family with 3 bedrooms each
How did you find this deal and how did you negotiate it?
MLS. They had showings scheduled every half an hour for a full day. I was the second one to get in. Had my laptop with me and submitted an offer around noon. Went back and forth a few times and had it under contract by 4pm
How did you finance this deal?
Conventional
How did you add value to the deal?
Evicted one tenant and rehabbed their unit ($10K). Created a fourth bedroom in every apartment.
What was the outcome?
Sold for $155,000 profit two years later, while cash flowing $1,600 a ,month in the meantime