Updated almost 3 years ago on . Most recent reply
Great buy and hold
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Johnstown.
Purchase price: $325,000
Cash invested: $50,000
We purchased this deal from a wholesaler with intentions to flip it. However, while rehabbing the property we pivoted and decided to keep it.
What made you interested in investing in this type of deal?
Cash flow. After rehab and refinance we are expected to clear about $1,500 a month in cash flow.
How did you find this deal and how did you negotiate it?
Whole sale deal from local whole saler.
How did you finance this deal?
Hard money
How did you add value to the deal?
Adding an ADU and fully rehabbing the property
What was the outcome?
Added it to our portfolio and we now have great cash flow coming in monthly.
Lessons learned? Challenges?
We learned how it was to work with multiple contractors at once. We gained more experienced working with the city of Providence.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I represented myself during this transaction.
- Jaston Robinson