Turnkey Triplex in Small OH Market

[Matthew Masoud]

Investment Info:

Small multi-family (2-4 units) commercial investment investment.

Purchase price: $115,000
Cash invested: $9,850

Purchased a triplex

Converted 2 out of the 3 units to short term rentals bringing in a gross of $1,200 (market One year lease $650/month). Last unit has long term tenant at $600/month

Monthly mortgage: $760 (including tax/insurance) APR. 2.97%
Total expenses: $650 (utilities + Cap Ex + Vacancy)

Net Cashflow: $1,590/mo

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

Opportunity to use great financing on Turnkey Triplex.

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

Found Property on MLS. Offered $15k above asking. 6 offers presented, mine was accepted.

How did you finance this deal?