41 Woodette Place--Elmwood Avenue Double

[Earl Altheide]

Investment Info:

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

Purchase price: $230,000
Cash invested: $45,000

Upper_Lower Double with 2 renovated units, new roof, new concrete driveway, vinyl siding, new windows throughout

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

Great location, good condition

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

Bought it on market through the MLS

How did you finance this deal?

Conventional financing

How did you add value to the deal?

Updated upper unit with new kitchen, bathroom updates, fresh paint, new windows and new lighting

What was the outcome?

Improved rent from $850 to $1400.

Lessons learned? Challenges?

Move quicker, I took a long time to turn the unit over