HPP Rental Property #3 - doors 5 & 6

[Peter "Coop" Cooper]

Investment Info:

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

Purchase price: $210,000
Cash invested: $35,000

We purchased these two units in an off market deal - a little rehab - and used a PMM from the Seller

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

Two units with separate electrical meters made for two separate renters - Section 8 qualified

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

Driving for dollars is how I found it - and I made friends with the owner.

How did you finance this deal?

$35k cash, $175k PMM with a balloon payment in 5 years.

How did you add value to the deal?

New paint, flooring, lighting, baseboards, updated catchment system - knocked down all the overgrowth

What was the outcome?

Fabulous long term hold

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

I used a great handy man - Jiovanny Hernandez for most of the work - and brought in a mini excavator (Kainoa Hauanio) to reclaim the property