Added 23 units + office building

[Robert Lipscomb]

Investment Info:

Other buy & hold investment.

Purchase price: $740,000
Cash invested: $88,000

Added 23 units, mostly SFR with two duplexes and one triplex. All properties need work, but I haven't had any issues keeping tenants.

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

Looking for scale

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

Networking

How did you finance this deal?

Conventional + owner carry

How did you add value to the deal?

Capital improvements

What was the outcome?

TBD...

Lessons learned? Challenges?

- Take control of repair/capital improvement costs
- Make sure you have plenty of cash reserves