All Forum Posts by: Ellen McKinley
Ellen McKinley has started 2 posts and replied 11 times.
Post: Is the potential worth the price?
- Posts 11
- Votes 0
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Pocatello.
Purchase price: $209,900
Duplex, renovated, 860 sq. ft./unit, on .51 acres. Zoned for high density, and has been engineered for 7 more units, 1 4 plex and 1 triplex. If I did it the way they have the plans drawn up, it would change the lot from a nice, green rural feel to more of an asphalt jungle feel, and the parking is far away from the units, in my opinion. I would prefer to add 1-2 duplexes, or maybe a single-family home for myself. Median price for a home in this neighborhood is $174,900, price per sq. ft. $90.
What made you interested in investing in this type of deal?
Moving to Pocatello, and property values are far less here than where I am moving from. Newly retired and looking for a new challenge.
How did you find this deal and how did you negotiate it?
MLS, Realtor.com
How did you finance this deal?
I am pre-approved if I either lease out my current home or sell it outright.
How did you add value to the deal?
Newbie, don't know yet!