12 units, Pure luck & A fantastic friend.

[Mike Oswald]

Investment Info:

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

Purchase price: $1,025,000
Cash invested: $2,400

I Found a 12 plex that was owner finance in downtown Anchorage.
I got the owner carry for 5% and the second @ 5% 4 point on the back. 2 year balloon.

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

That I had the opportunity.

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

It was dropped in my lap. And I got in with no money out of pocket.

How did you finance this deal?

Owner Carry and A Second

How did you add value to the deal?

Remodeling the units adding W&Ds.

What was the outcome?

TBD, I am still working on this.

Lessons learned? Challenges?

Look at the inside of the property 1st.

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

Not on this deal.