Updated about 7 years ago on .
Four unit - San Pedro, CA
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $750,000
Cash invested: $137,500
4 unit property - Los Angeles.
How did you finance this deal?
I had been seasoning some borrowed money from a family member in my bank for about 6 months so I bought it and then once the loan was sold off I converted $150k of the down payment to a 2nd mortgage so I actually only put $25K down of my own money originally. I have since paid down $100k of that second.
How did you add value to the deal?
Rehabbed units and raised rents.
What was the outcome?
Still going...
Lessons learned? Challenges?
Its an old building built in 1924 so their have been quite a few repairs but the cash flow is pretty fantastic so its still worth it.