Updated over 6 years ago on .
6 apartment multifamily
Investment Info:
Large multi-family (5+ units) buy & hold investment in New Windsor.
Purchase price: $372,500
This is a very old building but it cash flows well
What made you interested in investing in this type of deal?
cash Flow
How did you find this deal and how did you negotiate it?
3 months
How did you finance this deal?
Bank Loan
How did you add value to the deal?
I am raising rents as quickly as possible. The building was also neglected. I want to complete much needed upgrades to increase the rent and reduce maintenance.
Lessons learned? Challenges?
The insurance company gave us a list of issues they wanted addressed. This was unexpected. I have a list of improvements I want to make but the building is currently occupied and cash is tight after the 25% down payment.