Huntsville Alabama 4 plex
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Huntsville.
Purchase price: $240,000
Cash invested: $65,000
Very excited about this first deal! Probably will not be a home run but not a risky deal either. By raising the rents to market raise, It'll be a little over a 7% CoC return. A+ school district makes this area very desirable area of Huntsville so it rents quickly.
I found this by contacting agents on Loopnet. Interviewed them and describe what I was looking for. One I worked with had a client liquidating his assets and needed to offload the property.
Here is the Zillow listing - https://www.zillow.com/homes/12005-Sugar-Mill-Cir-SE-Huntsville,-AL,-35803_rb/190833456_zpid/
What made you interested in investing in this type of deal?
rents were below market
huntsville is growing
A school district
How did you finance this deal?
Conventional mortgage using Better Mortgage
How did you add value to the deal?
Raised rents