Updated almost 4 years ago on . Most recent reply
Recreational Town Multi Unit Investment
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Greers Ferry.
Purchase price: $277,000
4-Plex on .75 acre lot in a recreational town. Built in 2010 by a local builder that had investing in mind. Great rental!
What made you interested in investing in this type of deal?
Buying into multi units and getting out of single family homes.
How did you find this deal and how did you negotiate it?
Located it on Realtor.com and jumped on it.
How did you finance this deal?
Local Bank.
How did you add value to the deal?
Increased lease terms and rents.
What was the outcome?
Increased cashflow.
Lessons learned? Challenges?
No property manager around. Had to utilize family. Kept stirring PM interest and so now lining up a professional PM locally.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
RE agent to close deal.