Long term- short term pivot

[Victor Herman]

Investment Info:

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

Purchase price: $220,000
Cash invested: $50,000

As one of my tenants is leaving me at the end of this month I will convert this 1 bedroom into a short-midterm term rental. I have started getting the shopping list together. I will clean the unit up and stage it. I will be able to double the rent immediately once it is furnished and utilities are switched over.

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

Initially a long term investment, now I'm going to pivot a little.

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

MLS. Good offer and a big down payment with a good credit score.

How did you finance this deal?

Conventional loan

How did you add value to the deal?

A few minor upgrades, and appliances were all I needed and furnished the unit.

What was the outcome?

to be determined

Lessons learned? Challenges?

to be determined