Updated almost 7 years ago on . Most recent reply
Foreclosure Purchase Multi- family
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Cleveland.
Purchase price: $8,000
Cash invested: $15,000
3 family Unit on Clevelands west side. Positive cash flow
What made you interested in investing in this type of deal?
Great price, great deal and great deal and it produces a positive cash flow.
How did you find this deal and how did you negotiate it?
Through my Realtor. Made multiple offers.
How did you finance this deal?
Private funds from Myself and another investor.
How did you add value to the deal?
Remodeled all the units and repaired and painted the outside. repaired the crawlspace and mortar fix of foundation and chimmney.
What was the outcome?
positive cash flow $1,700 per month.
Lessons learned? Challenges?
Financing is King.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Just My realtor