All Forum Posts by: Cody Brown

Investment Info:

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

Purchase price: $470,000
Cash invested: $73,700

This is a 3 building 10 unit deal that we closed on in early May. The building was fully leased at purchase with 80% HUD tenants.

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

This deal provided a clear path to cash flow and was available under market value.

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

This deal was found on the MLS and negotiated in partnership with my real estate agent.

How did you finance this deal?

Traditional bank financing with 15% down.

How did you add value to the deal?

We managed to negotiate almost 10% off asking due to the time on market and rarity of a property of this size in the area.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

My real estate partners are at Image Realty in NE Arkansas. Rick Hartness is my realtor.

Hey Mindy.  The form link says I need different permissions to view it. 

Thanks for all the advice so far.  We are going with a full inspection and should have a rent roll very soon.  The good news is our margin is good enough to not stress a ton about a single bad renter but I'd prefer we have a really clear picture before closing.  

I'm current under contract for 10-unit property, my first over 4 units.  I've gotten offers from inspection companies to only inspect a select quantity of units.  Thoughts on this vs having all 10 units inspected?   If you've pursued either route would you have recommendations? 

It's (2) 3-unit buildings and (1) 4-unit buildings with metal roofs and slab foundations.   Some have had remodels recently but it's mixed throughout.