4 Units South Lawrence

[Todor Ialamov]

Investment Info:

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

Purchase price: $495,000
Cash invested: $123,750

This property consists a 3 family main building that initially had 1 four bedroom apartment ( we turned into five beds) and 2 three bedroom apartments ( we turned into four beds) and a small 3 bedroom house in the back.

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

It had all the things that I look into an investment property - great location, large units with an option to create an additional bedroom, plenty of room to increase rents, it was deleaded, very high rental demand area.

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

MLS

How did you finance this deal?

Conventional loan with 25% down payment

How did you add value to the deal?

Created 3 additional bedrooms and brought rents to market value

What was the outcome?

We now have almost $4,000 pure cash flow a month

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

I was representing myself