El Sereno Diamond in the rough
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Los Angeles.
Purchase price: $670,000
Cash invested: $167,500
Bought it, did a $50K renovation and rented in 4 months
What made you interested in investing in this type of deal?
Property was a perfect match to accommodate 2 units as it had 2 separate entrances, 2 driveways and 2 AC units
In an up & coming LA neighborhood
How did you find this deal and how did you negotiate it?
I continuously look at new listings
How did you finance this deal?
Conventional loan
How did you add value to the deal?
Did a an interior/exterior renovation with updated fixtures, lighting, appliances and current trend paint palette
What was the outcome?
It was exactly what I expected and then some!
Lessons learned? Challenges?
Patience and attention to detail
