Lake view Triplex I Bought at 21 years old
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $240,000
Cash invested: $30,000
Lakeview triplex in Eastlake, Ohio. The property came with two long-term tenants in place and one vacant unit. I renovated the vacant unit and leased it at top-of-market rent while keeping the existing tenants in place to maintain cash flow. As those tenants eventually move out, I'll renovate their units and increase the property's rental income even further. This was an off-market deal sourced through my full-time cold calling team, who consistently identify investment opportunities before they hit the market.
What made you interested in investing in this type of deal?
I wanted to increase my cash flow and set up long term wealth
How did you find this deal and how did you negotiate it?
Found it from my cold callers I hire to call for me full time. I negotiate it directly with the seller all off market
How did you finance this deal?
Conventional loan 20% down. I was looking to leave money in the deal to cash flow more and get tax advantages
How did you add value to the deal?
Renovated the vacent unit
What was the outcome?
Amazing cash flow and added equity within 3 months of buying it
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am a real estate agent so i represented my self
