Updated about 5 years ago on . Most recent reply
Filling out my profile...
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Rochester.
Purchase price: $176,000
Cash invested: $20,000
Side by side duplex for BRRRR
What made you interested in investing in this type of deal?
Passive income through buy and hold is my strategy.
How did you find this deal and how did you negotiate it?
Another MLS deal. I like properties that sit a while. The owners get anxious.
How did you finance this deal?
Commercial loan through a local credit union.
How did you add value to the deal?
Currently remodeling one side and will transition to the outside. There is also the possibility of subdivision of the lot.
What was the outcome?
In process...
Lessons learned? Challenges?
I’m a 20 year veteran, haven’t learned a bunch on this one yet. I’m sure the learning and challenges will come from the subdivision.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Tim Fontneau with Hourihane, Cormier and Associates is my agent. He’s really good with small multi families in my area.
