Updated over 2 years ago on . Most recent reply
My second deal!
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $135,000
About to close on a 3 family building that needs some cosmetic work. I will be doing the renovations, my partner will bring all of the money, and we will split future profits and cash flow. Super excited!
What made you interested in investing in this type of deal?
The value add opportunity through cosmetic fixes.
How did you find this deal and how did you negotiate it?
Our amazing agent brought this to us. We negotiated for about a month and finally came to an agreement
How did you finance this deal?
I have a partner who is bringing all of the cash needed to close and rehab the property.
How did you add value to the deal?
Cleaning it up, adding new floors, paint, and finishes. Also bringing rents up to market rate.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
My agent Brenda Durant from Bishop West Realty