Fix & hold apartment building turned into a flip
Investment Info:
Large multi-family (5+ units) fix & flip investment.
Purchase price: $175,000
Cash invested: $175,000
Sale price: $555,000
abandoned 6 unit apartment building - full gut remodel with all new mechanicals, roof, electric, plumbing, etc.
Fully occupied with a 17% CoC return but resident profile did not allow me to self manage so I sold it to payoff all other company debt
How did you find this deal and how did you negotiate it?
Realtor brought it to me off-market as original buyer fell through
How did you finance this deal?
Hard money rolled into a commercial loan while I held past 1 year.