Knoxville Oakwood Fourplex

[Cassidy Melhorn]

Investment Info:

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

Purchase price: $85,000
Cash invested: $185,000

4 unit in Knoxville

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

I'm always buying this type of deal

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

Across the street from a flip- got the phone number from the guy mowing

How did you finance this deal?

Used my own money and then cashed out with credit union financing

How did you add value to the deal?

Renovation

What was the outcome?

250k plus my total investment back in my pocket and $500/mo for life

Lessons learned? Challenges?

Use city archives to determine if property was legally converted to multi unit. If it was, you can skip a lot of processes from the city when installing multiple electric meters

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

Victoria Melhorn is the best realtor for landing these deals