Gravois Park 4 Unit purchased in an exchange in 2020.

[Lynne Hart]

Investment Info:

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

Purchase price: $110,000
Cash invested: $40,000

4 Units, Shotgun with 3 rooms each. Purchased with 2 tenants in place. Updated 3 units and put into production in 2021. Chugging along nicely even with smaller units. Gross is about 2400 monthly.

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

I had unexpectedly sold a building and using a 1031 exchange to move to the next building. Its not ideal, but its a nice solid little invesment that will be even more interesting in the next 5 years or so.

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

I'm a real estate agent and investor, this one I happened to find on the MLS.

How did you finance this deal?

1031 Exchange

How did you add value to the deal?

Updated 2 units, tweaked another, tuckpointing, new roof 2020 and alot of cleanout.

What was the outcome?

Cashflow!

Lessons learned? Challenges?

I'm satisfied with this investment for the price point, but I wouldn't want a portfolio full of 3 room shotguns. One is enough. :)

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, Lynne Hart (me) is my real estate agent and I would be happy to connect my clients with any of the trusted professionals I use on my own transactions!