Updated 8 months ago on . Most recent reply
Third small multi-family
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $155,000
Cash invested: $43,000
Long term rental duplex with two 2/1 units 5 minutes from zoo.
What made you interested in investing in this type of deal?
Cleveland prices are rising, stable small-multi is resulting in decent cash flow.
How did you find this deal and how did you negotiate it?
My realtor
How did you finance this deal?
25% down 30 year fixed conventional
How did you add value to the deal?
No value add. One unit is occupied, the other is clean and rent ready to market.
What was the outcome?
Holding long term for both appreciation and cash flow.
Lessons learned? Challenges?
Went back to seller after inspection and got them to fix about $3,000 worth of stuff. Not big, but always worth trying.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Pat Drury, Chris Wharton
