All Forum Posts by: Christopher Mikle

Hey Ryan, I’d love some more info as well!  Are you willing to piece them out or set on moving them all at once?

Does anyone have a tried and true analysis calculator for a Storage facility that they’d be willing to share?

Thanks!!

@Patrick Bavaro yea that's correct. I put $10,000 of my cash down, making up the rest with our HELOC for a total of 25%. Return on that $10k will be > 24% once we fill the vacant unit. I have a very reliable renter in the other side for about $300 under market rent, until March 2023. Once we replace them, it'll go up to about 50% COC.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $155,000
Cash invested: $10,000

Side by side duplex, each side with a single stall garage in a very quiet neighborhood.

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

It fits the mold for our other investments, all side-by-side duplexes. Was attracted to the neighborhood and overall condition of this property.

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

It was an off market deal. The sellers are friends of the family. There wasn't much of a negotiation, as the price they wanted was reasonable and definitely worked with the analysis.

How did you finance this deal?

Partially conventional financing @ 3.25% for 30 yr, with some of the down payment coming from our HELOC.

Hi Earlicia.  I’d be interested in seeing more details about the duplex you’re selling!  I own two duplexes in Battle Creek and am always looking for new opportunities. 

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $79,000
Cash invested: $20,000

Side-by-side duplex in Battle Creek Michigan. Each unit has 4 br/ 2 ba and total rents are at $1,675/month. This property yields $630/mo in pure cash flow, after all expenses and future set-asides!

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

Found this deal on the MLS. Was listed for $85k and we agreed on $79k, with an additional $3k cash back to me at closing from the seller.

How did you finance this deal?

Conventional loan for 30 years @ 3.625%

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Battle Creek.

Purchase price: $62,080
Cash invested: $870

2 bed, 1 bath Duplex in Lakeview.

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

Bought it from another investor who was looking to down-size.

How did you finance this deal?

Fully financed by a HELOC. Currently (Apr. 2020) going through a cash-out refi

How did you add value to the deal?

Increased rents

Lessons learned? Challenges?

Really learned a lot about analyzing properties AFTER this process. I had a rudimentary process, but have really refined that, taking what I learned with this first property and adding a lot more detail to my analysis.

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Battle Creek.

Purchase price: $62,080
Cash invested: $870

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

Bought it from another investor who was looking to down-size.

How did you finance this deal?

Fully financed by a HELOC. Currently (Apr. 2020) going through a cash-out refi

How did you add value to the deal?

Increased rents

Lessons learned? Challenges?

Really learned a lot about analyzing properties AFTER this process. I had a rudimentary process, but have really refined that, taking what I learned with this first property and adding a lot more detail to my analysis.

Hey everyone. Wondering what the general consensus is on how to structure LLC's for investment properties. Do most people have an LLC that covers all of their properties or do you do a separate one for each property? What are the pros and cons of each?

Thanks!