Real Estate Deal Analysis & Advice

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Gary Robert Burnham Jr.
  • Lender
  • South Windsor CT
5
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21
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Excellent deal and excellent cash flow

Gary Robert Burnham Jr.
  • Lender
  • South Windsor CT
Posted Jan 19 2022, 15:27

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $305,000
Cash invested: $91,500

excellent 3 family I picked up from someone in trouble with tax issues and unfinished unit. Excellent street and excellent cash flow.

What made you interested in investing in this type of deal?

the seller had tax issues and unfinished units so it was very attractive

How did you find this deal and how did you negotiate it?

a real estate agent i know said their current buyer was scared to buy it.

How did you finance this deal?

conventional

How did you add value to the deal?

i was willing to see past the problems.

What was the outcome?

a home run property that cash flows great

Lessons learned? Challenges?

keep an open mind and see the deal finished in your mind.

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1,024
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Joshua Janus
  • Realtor
  • Columbus OH & Cleveland, OH
976
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1,024
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Joshua Janus
  • Realtor
  • Columbus OH & Cleveland, OH
Replied Jan 19 2022, 16:10

Congrats @Gary Robert Burnham Jr.! Have you begun the renovations or updates to the unfinished unit? I bet you bought into some solid equity from this deal. What are the rent projections?

User Stats

21
Posts
5
Votes
Gary Robert Burnham Jr.
  • Lender
  • South Windsor CT
5
Votes |
21
Posts
Gary Robert Burnham Jr.
  • Lender
  • South Windsor CT
Replied Jan 19 2022, 16:45

I finished the units and have awesome tenants in this property. Took me about 6 months to get it to where I needed it to be. Cash flow financed 70/30 LTV is approx $1500 / mo. Very solid property