Longterm buy and hold

[Sarah Akin]

Investment Info:

Other buy & hold investment.

Purchase price: $400,000
Cash invested: $130,000

Mixed use property in small town Iowa, 2 buildings in a town square, over 100 years old, 4 residential units upstairs, 2 commercial units downstairs

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

I've always wanted to get into commercial, this was an easy in.

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

On market, with a realtor.

How did you finance this deal?

Commercial 10 year loan.

How did you add value to the deal?

Remolding units as they turn and rent increases.

What was the outcome?

Great cash flow and tax deduction!

Lessons learned? Challenges?

Hire an eviction attorney, don't diy.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Lincoln Savings Bank was wonderful, and I'm a wonderful real estate agent!