Off-market big multi-family
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Off-market big multi families of 4 units.
What made you interested in investing in this type of deal?
In a great location and neighborhood of the town, over 6000 sq ft total, each unit at least 2 bedrooms and some could be converted into 3 bedrooms, great potential to increase rent and the value of the property with some proper work done.
How did you find this deal and how did you negotiate it?
Off-market, found by driving past it and got the owner on the phone afterwards.
How did you finance this deal?
Equity partnership. Savings and the loan.
What was the outcome?
After a few years, 2 units have been upgraded, better rent and greater cash flow.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Should have fractured the cost of the balcony rebuilding in the price in our offer. It cost us over $6,000 to fix the balcony right.