6 Unit Equity Grab - West NJ

[Matthew Amabile]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $600,000
Cash invested: $75,000

6 UNIT value add by stabilizing. 3 non paying tenants and open permits that need to be closed by finishing work. Purchase price $600,000 with appraisal at purchase @ $1M

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

There was a ton of equity to be captured by solving problems

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

Pocket listing from an agent, negotiated direct with seller

How did you finance this deal?

hard $

How did you add value to the deal?

closing permits and stabilizing

What was the outcome?

$1.1M valuation

Lessons learned? Challenges?

Have the town involved (and an attorney) as soon as possible to sort through all issues with the property