Toledo Multi-family apartment (13 units)

[Ian Appold]

Investment Info:

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

Purchase price: $515,000

Large multi-family Apt (13 units) in Toledo OH

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

Located in a very desirable part of town for blue collar workers

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

Off market through an agent in my network

How did you finance this deal?

Cash

How did you add value to the deal?

Raised all tenants rents to market rate

What was the outcome?

Still own the property

Lessons learned? Challenges?

Raising every tenants rates at the same time can lead to mass panic and vacancies. Better to raise rents at a slower rate.