Buy and hold, turned into flip!

Investment Info:

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

Purchase price: $70,000
Cash invested: $15,000
Sale price: $155,000

This was a great ROI, starting as a buy and hold, netting $1500/mthly. Net profit on sale: $93,000.

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

The cash on cash analysis was excellent, and there was plenty of value ad in the property.

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

Through a network of investors.

How did you finance this deal?

commercial loan

How did you add value to the deal?

New Flooring, toilets, windows where necessary, paint, kitchen cabinets/countertop rehab

What was the outcome?

This property was a good investment property both for a buy and hold, and a resale.

Lessons learned? Challenges?

The lesson learned on this particular property, was that due diligence of proper zoning and special use permits if necessary.