Our first multi-family property!!

[Cassandra Barr]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $125,000
Cash invested: $20,000

Unit A 3/2
Unit B 1/1
Unit C 2/1

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

Wanted to move into multi-family.

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

I am a real estate agent. The Seller called and wanted me to list the property. I gave her 2 options. 1) I can list 2) I can buy.
Thankfully she went with option 2!

How did you finance this deal?

Seller finance. $20,000 down 5% interest, amortized over 30 years, payoff in 5 years.

How did you add value to the deal?

Soooo much!!! New exterior paint, cleaned up exterior, Remodeled all units, new windows.

What was the outcome?

In the process of refinancing. All 3 units are occupied by great tenants.

Lessons learned? Challenges?

I put a lot into this property to make a very nice place for my tenants to live. So far that has worked out for me.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Just myself!