Second of Three Investments in Naples

[Brian Langstrom]

Investment Info:

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

Purchase price: $550,000
Cash invested: $45,000

Location is key. Nice double 2/2. Bought the most distressed in the area and fixed it up. Was recently offered $900,000. But the cash flow is terrific.

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

Took the pig of the area and fixed it up. Wife hates it when I buy the nasty.

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

Wife is a realtor

How did you finance this deal?

Conventional mortgage and cash down from bonus at work.

How did you add value to the deal?

Totally gutted both units and remodeled.

Lessons learned? Challenges?

Don't listen to the wife. LOL