Three Family Reno in Upstate New York

Three Family Reno in Upstate New York

Investor · NY · Member since 2020 · 30 posts · 15 votes

Investment Info:

Small multi-family (2-4 units) fix & flip investment in Newburgh.

Purchase price: $90,000
Cash invested: $60,000

3 Units Currently Under Reno

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

High Monthly Cash Flow

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

MLS, it was part of a package and I broke the package up into two properties then again to just this property at closing table.

How did you finance this deal?

Cash

How did you add value to the deal?

Going to pull permits and finish construction

What was the outcome?

Still In process

Lessons learned? Challenges?

Licensed Plumber didn't want to pull work because another plumber had done work in there previous to him.

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  • Member since 2019 · 4 posts · 0 votes
    6y

    Hey John. Where did you find this deal?

    I've been looking in upstate NY as well. Would be great to connect. 

  • Investor · NY · Member since 2020 · 30 posts · 15 votes
    6y
    Originally posted by @Nicholas Aronis:

    Hey John. Where did you find this deal?

    I've been looking in upstate NY as well. Would be great to connect. 

    Hey Nicholas, 

    Sorry for the late response. A realtor reached out to me in regards to an out of state owner sellering a package of 5 properties. I believe he still has 2 or 3 left located in the City of Newburgh. If you're interested reach out and I'll put you in contact with the realtor. Having you rehab the property next door would help raise both our values. 

  • New to Real Estate · Newburgh ny · Member since 2019 · 2 posts · 0 votes
    5y

    @John Bonhomme

    Hello John, if possible I’d like to connect. I’m looking for my first investment property and have a team ready to go!

  • Investor · NY · Member since 2020 · 30 posts · 15 votes
    5y
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