Starting the land bank.
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $35,000
Cash invested: $15,000
4plex with major repairs needed. Minimum standard repairs made to make it functional. Re-model and improvements planned but still on hold.
What made you interested in investing in this type of deal?
Great deal.
How did you find this deal and how did you negotiate it?
Local seller, 1 on 1 negotiations.
How did you finance this deal?
Owner carry
How did you add value to the deal?
Sweat equity.
What was the outcome?
it pays for itself.
Lessons learned? Challenges?
Always more repairs than expected.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Me!