Updated over 6 years ago on . Most recent reply
Multi Family Investing
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Newport News.
2018: Rehabbed and kept a multi family property in Newport News
What made you interested in investing in this type of deal?
The cash flow potential that this property had.
How did you find this deal and how did you negotiate it?
Talked to someone that was working on the property.
How did you finance this deal?
Through a major bank.
How did you add value to the deal?
Did a medium rehab to both of the units which included work on the bathrooms, kitchens, electrical, plumbing, flooring, paint, hvac, etc.
What was the outcome?
The property rented in less than a month and cash flowed very nicely.
Lessons learned? Challenges?
To many!!! Keep it simple and don't over think it. Learned how to screen contractors properly.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, Jasmine Benford and Reggie Moore are two great agents.