Updated about 6 years ago on .
Second Multi-Family Unit
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $265,000
Cash invested: $67,000
This is our second push into the multi-family market. This QuadPlex was already rented, we snatched it up two hours after it was listed. It appraised well over our purchase price. Tenants were in place and we hit the ground running on this one. By closing on this property we were able to achieve our goal of having 20 doors renting this year.
What made you interested in investing in this type of deal?
We like the multi family housing market in this City.
How did you find this deal and how did you negotiate it?
Literally just saw it on Realtor.Com and immediately called our agent to make an offer.
How did you finance this deal?
5 year note with 15 year amortization with 25% down.
How did you add value to the deal?
We will value add when the leases turn over by adding some upgrades to the units.
What was the outcome?
Its ours and things are good so far.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
@nickcantey Nick Cantey, killed it again for us in K-town. He is a member of BP and I highly recommend him.