Updated about 5 years ago on . Most recent reply
Under Market Multi-Family
Investment Info:
Large multi-family (5+ units) fix & flip investment.
Purchase price: $941,500
Cash invested: $63,050
6 unit apartment building that sits adjacent south of 35 O Street. This property also features covered
parking for each tenant. The County records conflict on the year built; however, it does appear to be built at or around the
same time as 35 O Street. Overall, The property has been well maintained and in good condition. Current rents are
approximately 14.81% under market.
What made you interested in investing in this type of deal?
Rents under market value
How did you find this deal and how did you negotiate it?
Meet with owner and work out a win win
How did you finance this deal?
Conventional Loan with my partners I am 17% owner on the deal
How did you add value to the deal?
Working on increasing rents
What was the outcome?
Building up my portfolio of Assets
Lessons learned? Challenges?
Just to be ready when opportunities come around.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
PM me and I will go over the details
