Updated 2 days ago on .
Central AR Group of Properties
Investment Info:
Large multi-family (5+ units) buy & hold investment.
Purchase price: $325,000
Cash invested: $168,000
In the middle of this one!
Looking for overall advice or referrals to potential lenders (conventional or private) and would consider long-term partnership
Owe: 218K
Current est value as is: $550k
Consist of
- 5 unit townhome building (gutted/ready for remodel)
- 8 unit mobile home park (clearing units)
- 1 SFR
- 0.87 development lot
Needed to complete entire deal including payoff: $750k
Est ARV: $1,500,000
Have begun the project, but need some help getting it over the finish line!
What made you interested in investing in this type of deal?
I love the mixed-use potential of the properties in the multi-family, mobile home park, SFR and development lot all in one.
How did you find this deal and how did you negotiate it?
Found it on the MLS and snatched it up in 2022, negotiated 70k off asking.
How did you finance this deal?
20% down conventional
How did you add value to the deal?
Full gut and remodel of interior of SFR (tons on interest to rent so haven't updated exterior), fully gutted 5 unit so far and have begun taking old mobile homes off for replacement