Small multifamily unit in DC

[Kiara Colon]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in North Little Rock.

Purchase price: $810,000
Cash invested: $20,000

4-unit complex, purchased with VA loan, owner operated and maanged.

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

Getting into small multifamily investments to one day become an owner of commercial property.

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

I found it through CREXI, and didn’t negotiate much since my realtor did the negotiations for me

How did you finance this deal?

VA Loan

How did you add value to the deal?

Cash investments; repainting, refinishing floors, upgrading appliances to stainless steel.

What was the outcome?

Happier tenants and increased rents for more income.

Lessons learned? Challenges?

Finance the rehab costs

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

Residential Mortgage Company (RMC), DC.