Linton Oaks Duplex Purchase I

[Elliot Rivera]

Investment Info:

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

Purchase price: $194,000
Cash invested: $20,000

Buy & hold investment purchase in Linton Oaks.

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

Expansion of current LLC holding strategy.

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

Found deal on MLS. It was for 3 duplexes purchased simultaneously so out of town investor could complete 1031 exchange.

How did you finance this deal?

Commercial debt through LLC. 10 year IO option over 30 year amortization schedule to improve cash flows.

How did you add value to the deal?

Cosmetic improvements (paint, siding repair, landscaping).

What was the outcome?

COC return in excess of 10% with projected IRR of 16-18%.

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

Dada McGlynn has been our Gainesville area RE agent for some time. We would recommend her services to others without hesitation.