All Forum Posts by: Simon Martinez

Investment Info:

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

Purchase price: $160,000
Cash invested: $14,000

Duplex Property

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

Cash flow amount was there with minimal rehab.

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

MLS

How did you finance this deal?

Conventional through local credit union

How did you add value to the deal?

Added exterior security gate, painted exterior, purchased new ss appliances.

What was the outcome?

New appraisal came in at $235k

Investment Info:

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

Purchase price: $190,000
Cash invested: $76,000

Tirplex property on 1 acre lot

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

The cashflow was there after rehab

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

MLS

How did you finance this deal?

Hard Money for the purchase and rehab

How did you add value to the deal?

Rehabbed the property with $76k to increase revenue from $1400 to $3200.

Howdy F.I.R.E. folks!

First time venturing out of the <4 unit multifamily realm. I've been able to use conventional loans (credit union) for my small multi-family purchases. I'm currently putting an offer on a 6 unit property at an 8% cap rate, once rents are brought up to market rate the property will be a 10-12% cap. Any lender recommendations out there that can lend on this acquisition for 12-18 months until I bring up the rents? Thanks in advance team!

Cheers,
Simon Martinez

I'm purchasing a triplex with existing section 8 housing tenants. I'm as green as they come in regards to section 8 matters. What process is required when ownership is transferred to keep section 8 eligibility as a landlord? I appreciate any insight! 

Wishing everyone abundance from Houston Tx.

Simon Martinez