First 8 Unit, Nailed It :D

[Justin Woodworth]

Investment Info:

Large multi-family (5+ units) buy & hold investment in Sun Prairie.

Purchase price: $875,000
Cash invested: $175,000

8 Unit, appraised for 950k, purchased for 875k, made 75k on appraisal, cashflows 38,400 a year, 21.9% COC Return

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

The numbers were fantastic and the property was in wonderful condition.

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

Craigslist, negotiated in person.

How did you finance this deal?

My partner and I brought cash to the table.

How did you add value to the deal?

Property was under rented (every unit was $850 or lower) and market rent for the units is $1100.

What was the outcome?

A fantastic cash flowing property where we made 75k on the appraisal.

Lessons learned? Challenges?

If a seller offers you a small seller's note, take it.

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

My team analyzed the deal and underwrote it. Talk to me if you have questions!