6 unit apartment building

Large multi-family (5+ units) buy & hold investment.

Purchase price: $200,000
Cash invested: $50,000

attractive building on a corner lot. features a large back yard and on-site laundry. four one bedroom units, 1 two bedroom unit. one 400 sq.ft. commercial space.

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

building long term wealth

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

through a friend. i met with the owners to negotiate.

How did you finance this deal?

owner financing

How did you add value to the deal?

completed repairs, refurbished units, re-sided garage, painted exterior, added extra machines to coin op laundry area.

What was the outcome?

increased rents, retained good tenants.

Lessons learned? Challenges?

don't be afraid to ask for owner financing.