MultiFamily property in Killeen Texas
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $45,000
Cash invested: $10,000
Sale price: $135,000
This was a great find, seller was the son of a gentleman who sadly passed away and the son lived in NY and didnt want to deal with low income properties in Killeen Texas. I utilized section 8 to rent this place with a 300 mortgage for over 5 years and collected 1300 a month. When i sold the property i moved the money to properties in Mendoza Argentina which is a great market to invest in right now.
What made you interested in investing in this type of deal?
i was interested in buying and holding while building a portfolio at that time. Now we own 7 properties in Margate FL, 1 left in Austin ( and moving to flipping in ATX and 7 more in Mendoza Argentina).
How did you find this deal and how did you negotiate it?
on redfin with the help of bigger pockets.
How did you finance this deal?
self financed with from the sale of previous property. But now i have access to everything you need at any point during the process
How did you add value to the deal?
i negotiated strongly after inspections, i also made small and smart modifications that were needed for tenants to live there safely and i took action immediately with my management company when the tenant presented an issue which allowed me to only turn over a door one time in the 6 years i had it
What was the outcome?
a successful money generating property while building good equity for my investment.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
i am the agent- if you need any assistance in any of the areas i have listed on the profile lets connect. My greatest success story is the trustworthy partners i have between Texas, South Florida and Argentina.