Conversion of SFH into small Multi-family

[Chris Barrett]

Investment Info:

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

Purchase price: $78,000
Cash invested: $252,000

Purchased a mixed use shell here in Baltimore, split it into two units. One unit is long-term traditional, other one is long term room rental.

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

Numbers made sense

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

Realtor, thought price was fair.

How did you finance this deal?

Cash

How did you add value to the deal?

Renovated the property and made it into a 2-unit.

What was the outcome?

Great, once it is finished.

Lessons learned? Challenges?

Everything must be specific and written down when communicating to another person, especially your GC.