Davenport, IA 4plex LTR/STR

[AJ Smith]

Investment Info:

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

Purchase price: $220,000
Cash invested: $18,000

4plex Conversion, two units of LTR and two units of STR

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

Offmarket deal brought to me by the realtor from my first deal. Negotiated that the seller fix the roof and a few pieces of damaged siding.

How did you finance this deal?

10% down credit union financing

How did you add value to the deal?

Converted two units to Short Term Rentals once I discovered the revenue from two Long Term units was enough to cover the mortgage entirely.