15 unit multi family

[Joe Long]

Investment Info:

Large multi-family (5+ units) buy & hold investment in Corning.

Purchase price: $565,000
Cash invested: $115,000

15 unit with seven 1BR and eight 2BR apartments.

What made you interested in investing in this type of deal?

Wanted to get into larger properties.

How did you find this deal and how did you negotiate it?

Off market through a friend of a previous seller.

How did you finance this deal?

20% down bank loan.

How did you add value to the deal?

Raise rents, update the units.

What was the outcome?

Still in progress.