Great Investment - multi family property

[Steve Ehrman]

Investment Info:

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

Purchase price: $335,000
Cash invested: $110,000

This is an 11 unit apartment building. These are garden style, and are fully occupied with long term tenants.

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

This was a deal on Craigslist.

How did you finance this deal?

Short term finance. We did a refi with a ten year term.

How did you add value to the deal?

Fixed a lot of stuff and did landscaping.

What was the outcome?

Income producing.

Lessons learned? Challenges?

Check previous inspection reports to make sure the city has kept the landlord honest