Current Turnkey Property

[Beau F Borinstein]

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $130,000
Cash invested: $10,000
Sale price: $170,000

This is a deal I am currently doing, this duplex is in greenfield IN, in a B to B- neighborhood. The rents were 750 and 790 for each units. Since I have acquired the property I have put a new lease in place for one tenant at 850 a month. The other tenant is moving out and there will be about 5000 in out of pocket cost to do turnover. We should be able to get rents up to 900 in the turned unit. I plan on selling it on market for 170-175. Off market I would take less!

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

I like providing value to owners in a way that they don't have to deal with the difficulties of going on-market and doing tenant and prospective buyer coordination's and overall getting an easier process.

I like providing value to buyers that are out of state and who can't find deals that cash flow well. As a buyer you don't even need to be an "investor" to work with me. The process is very easy and straightforward!

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

I acquire from personalized letters along with a little bit of cold calling.

How did you finance this deal?

I use an array of hard money lenders and private money lenders

How did you add value to the deal?

Stabilizing the property with long term leases and property management and doing turnover where needed. I acquired the property at a good price which allows me to sell to my buyer at a good price!

What was the outcome?

Still working through it