Multi-Family Investment Property

[Michelle Bordeau]

Investment Info:

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

Purchase price: $22,000
Cash invested: $15,000

Multi-Family purchase for my own investment portfolio

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

The price

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

Another property manager brought it to me

How did you finance this deal?

Land Contract

How did you add value to the deal?

Remodeled the interior and remodeled the exterior with a modern look

What was the outcome?

Great! I have a great tenant base who are happy with their living situation and monthly rents are good

Lessons learned? Challenges?

Being a property manager this was an easy flip for me. I would definitely move all tenants out when taking over a building so that I can split utilities to maximize my return. Being my first multi-family I had to take it slow to build the equity.

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

No, I did work with a lender to refinance to be out of the land contract and be able to cash out to build my portfolio.