Good solid buy and hold

[Tim Owens]

Investment Info:

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

Purchase price: $240,000
Cash invested: $240,000

(2) 2br/2ba, (2) 3br/2ba 4plex in Texas, near Fort Hood.

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

cash flow

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

I sold about 200 of these in '05 to '06 when they were new, and owned several then. All my investors loved them. They were great cash machines. I decided I should have never sold them, so I got another one.

How did you finance this deal?

cash. I plan to pull out money next year and buy some more.

How did you add value to the deal?

I'm updating the units as they become available. I'm putting in laminate flooring and stone counters.

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

Armadillo Properties in Killeen. I won't use anyone else.