1st of many multi family investments

[Lynnette Butler]

Investment Info:

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

Purchase price: $132,000
Cash invested: $4,000

2-1br and studio rents raising Jan 1 2022
Increasing cash flow to $750 month

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

Cash flow in hometown

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

MLS

How did you finance this deal?

Bank

How did you add value to the deal?

Cleaned up property fixed door and ceiling

What was the outcome?

$600 income monthly and raising rents Jan 1 2022 increasing to $750 cashflow

Lessons learned? Challenges?

Never buy on mls