Updated over 6 years ago on . Most recent reply
7-Plex closed in Sioux falls
Investment Info:
Large multi-family (5+ units) commercial investment investment.
Purchase price: $220,000
Cash invested: $55,000
I partnered with someone and it was our first deal with a wholesaler. It was taking on extra risk but since I have had some experience now we jumped in as the numbers appeared to be amazing!
Now I am managing this 7-plex and turning it around as far as deferred maintenance, upgrades, and managing it more professionally. It will be a heavy lift but the added value and cash flow will make it worth it. Plus it is always rewarding to make a run down place better and improve the neighborhood.
- Andrew Adam