Toledo Multi-family apartment (4 units)

[Ian Appold]

Investment Info:

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

Purchase price: $250,000
Cash invested: $27,000

Small multi-family quadplex in Toledo OH

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

Was located next door to one of our other units. Also located in good part of town

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

Was contacted directly from the owner as they knew we purchased the property next door. Settled on a price of $250,000

How did you finance this deal?

Cash

How did you add value to the deal?

Added coin laundry in the basement as well as made some upgrades to current units such as flooring, kitchen remodel and new fixtures in the bathrooms

What was the outcome?

Still own the property today

Lessons learned? Challenges?

Probably over spent on some of the fixtures as well as put in nicer countertops and appliances that were needed. Also do better background checks on potential tenants