I acquired a new asset!
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Parma.
Purchase price: $105,000
Cash invested: $32,620
BRRRR using hard money at 70% LTV 12 month term ballon payment. 100% financed construction. ARV goal at $165k.
What made you interested in investing in this type of deal?
One roof baby!
How did you find this deal and how did you negotiate it?
MLS and stay patient -I did not get scared by work to be done.
How did you finance this deal?
Hard Money
How did you add value to the deal?
Complete renovation - new electrical, plumbing, drywall, tile, kitchens and bathrooms. New paint everywhere.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I went through two R/E agents - I will continue to work with the second one I found and consider him an integral part of my Cleveland team.
