Mixed Use Long Term Hold

[Tyler Puzio]

Investment Info:

Mixed-use building

Purchase price: $405,000
Cash invested: $20,250

Mixed use investment. 2 residential units with 1 storefront

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

Cashflow, area appreciation, and an opportunity to put low money down

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

Wholesaler

How did you finance this deal?

FHA Loan

How did you add value to the deal?

Completed renovated one unit and did a light renovation to the other. The business renting the storefront unit did a complete haul of the space to bring it up to code

What was the outcome?

Cash flow of 2k+/month and about 200k equity in the deal.

Lessons learned? Challenges?

Decide on pricing with contractors before any additional work is done.
Make sure you have the funds to complete each portion of the renovation.
Work on a draw schedule with your contractor.
Make sure paperwork is in order and correct before proceeding with any evictions.