All Forum Posts by: Mason Crossland

@Michael Ealy

This is a great story, and very inspiring!

Also, goes to show that hard work and doing right by your clients opens the doors to more opportunities.

Investment Info:

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

Purchase price: $152,000

Brick 4 family in the heart of Norwood, OH. All units are 1 bed 1 bath with coin operated laundry and 2-2 door garages under the building, 1 of which is rented out.

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

I liked our duplex so I thought that buying a larger building with more units would be even better.

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

I found it thru my now realtor.

How did you finance this deal?

30 year fixed

How did you add value to the deal?

minor fixes. Major plumbing repairs and some minor boiler updates were needed.

What was the outcome?

Showed long term tenants that this building is a priority, so rent increases are easier.

Lessons learned? Challenges?

be present, and look hard at questionable items that may or may not be brought to your attention.

Investment Info:

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

Purchase price: $309,000
Cash invested: $29,000

Brick duplex in the Oakley neighborhood in Cincinnati, OH. Updated 1 bed and 3 bed units with off street parking.

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

Give me and my wife the opportunity to get an investment that would allow us to live for free.

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

We found this off market deal thru a business associate.

How did you finance this deal?

15/1 ARM

How did you add value to the deal?

The seller had recently updated the 3 bed 2 bath unit upstairs, so we updated the 1 bed 1 bath unit downstairs to live in and increase the overall value.

What was the outcome?

Currently getting top dollar in this market because of those renovations.

Lessons learned? Challenges?

Parking is important. Take advantage of Refi opportunities if needed. Finding good contractors.

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

No agent since it was off market, and yes I'd recommend the lender. Ron Erdmann of Guaranteed Rate (Cincinnati).

@Scott Rogers. Truth be told it's 21% COC. It helps when you take the expenses out, lol.

Hey almost forgot @Scott Rogers

No rehab, but we did have to upgrade some of the plumbing. .

Hey! Thanks for asking @Scott Rogers

$152k. $2290/mo includes one garage rented and coin laundry. 68% coc. 3% increase each year so far We’ve owned it 2.5 years. PS- We also have a duplex as well. Have a great week!

Investment Info:

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

4 family

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

long term opportunity

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

Networking with my realtor

How did you finance this deal?

30 year fixed

How did you add value to the deal?

plumbing updates, and misc painting, etc.

What was the outcome?

rental increases

Lessons learned? Challenges?

rents were under market when purchased.