4-Unit Multi-Family Next to the Columbus Crew Stadium

[Alfath Ahmed]

Investment Info:

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

Purchase price: $405,000

4-Unit Brick multi-family purchased in South Linden

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

The South Linden part of town is gentrifying & appreciating fast. I wanted to grab this deal right before the neighborhood prices skyrocket.

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

Found this deal on the MLS. The deal had been sitting on the market for some time now and the investors were out-of-state. One of the units were going through eviction. I understood the sellers were looking to sell and they were asking for way too much. My agent and the listing agent were from the same brokerage. As soon as the sellers responded to my first offer, I knew I was in the driving seat and I negotiated the deal about $45k down.

How did you finance this deal?

100% financed. No money in the deal.

How did you add value to the deal?

Negotiation Tactics created equity. Raising rents as 2/3 leases end this year.

Lessons learned? Challenges?

Close after the 1st of the month instead of closing 2 days before the end of the month.