Updated over 2 years ago on . Most recent reply
Dayton OH 4 Plex
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $155,000
Contributors:
Austin McClain
4 Plex brick building. Still having issues with management company. Fussy market in that regard. Cashflow now that it is running not bad. Took 6 months to stabilize a small MFR. HELOC purchase then Cash out Refi. $26k of my money to rehab and get running.
What made you interested in investing in this type of deal?
The seller was in trouble and I got a great purchase price!
How did you find this deal and how did you negotiate it?
BP agent off market deal
How did you finance this deal?
HELOC cash
How did you add value to the deal?
2 units turned. Normal makeready items.
What was the outcome?
Market rents in 2 units that got rehabbed. Rent raises on other 2 units.
Lessons learned? Challenges?
Before entering a New Market be absolutely SURE you have a solid management company ready to go. I thought I did but didn’t fully vet until later.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Austin McClain was the best in the whole transaction. Kept everything together and was very professional the whole time. Highly recommend Austin as your Agent if you are looking in the Ohio market Dayton and surrounding areas.
