Updated over 4 years ago on .
Bigger Pockets connection led to this deal!
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $385,000
Cash invested: $118,000
Contributors:
Brad Penley
A bigger pockets dream come true! After meeting @BradPenley on BP a couple years ago we started a local REI group to help many others in this market connect & thrive. When Brad was ready to sell his multi-family home here, he called me to list it. After a couple of failed contracts on inspections and my other deal falling through, Brad was motivated to pull cash for another project, the timing was right for me, and we were able to create a mutually beneficial transaction!
What made you interested in investing in this type of deal?
Have seen the success of multi family so many time with my investor clients!
How did you find this deal and how did you negotiate it?
Bigger Pockets!! Easy negotiation with a chill California dude. :)
How did you finance this deal?
Hustle baby hustle.
How did you add value to the deal?
Made some needed repairs & improvements prior to close. Wired $50k EMD straight to seller.
What was the outcome?
I solved the problem of housing for a couple of employees and all parties are happy!
Lessons learned? Challenges?
Pump the septic tank before listing a property. :)
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Andrew Kilbin with Lending Deck is THE MAN!!
