Edgewater/Cleveland Area MultiFamily

[Kaulin Galluzzo]

Investment Info:

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

Purchase price: $180,000
Cash invested: $20,000

A multifamily property where a significant amount of work was needed to get two of the three units to market rent. Did much of the work ourselves.

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

Owner-Occupied a Value add multifamily.

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

This was a competitive on market property.

How did you finance this deal?

Owner occupied traditional financing.

How did you add value to the deal?

Did many of the repairs ourselves!

What was the outcome?

Added value through repairs and renovations and brought the property to market rents.

Lessons learned? Challenges?

DIY can be very challenging depending on the work required. Cosmetic work can easily be done by a small team but major repairs like bathroom remodels and electrical can be trickier to do by yourself and I highly recommend getting a team to work with it.