Updated about 2 years ago on . Most recent reply
Ground Up New Small Multifamily
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $463,500
Cash invested: $6,000
The acquisition of an empty lot and Ground Up Development of a Small Multifamily Structure.
What made you interested in investing in this type of deal?
The existing inventory of small multifamily structures were either too old or poorly maintained.
How did you find this deal and how did you negotiate it?
Empty lot was found on the MLS and terms were negotiated agent representation.
How did you finance this deal?
Traditional financing.
How did you add value to the deal?
New 2 Story Structure built.
Lessons learned? Challenges?
Agency Having Jurisdiction created long permit review times.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes. Raquel Zapata
