First Mixed-Use Purchase

[Bethany Turon]

Investment Info:

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

Purchase price: $300,000
Cash invested: $60,000

My first mixed-use purchase, this was an off-market deal with a contractor I encountered as part of my property management work. 4 apartments and a commercial unit near the interstate on a main thoroughfare. Solid cash flow and buy and hold.

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

Solid cash flow, well-built building, a commercial operation that was well functioning and had been in existence for 14 years.

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

In speaking with a contractor bidding for a job I was running, I found he was interested in getting rid of his property so he could focus on being in Florida full-time.

How did you finance this deal?

Commercial financing with Mechanics Savings Bank.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Justin Laverriere at Mechanics Savings Bank was great.

[Dmitriy Fomichenko]

Way to go, congrats @Bethany Turon !