Buy & Hold 5 Plex

[Collin Wallace Chesnut]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $300,000
Cash invested: $5,000

Purchased with the monthly rents at 3,200. Successfully evicted the bad tenants and brought on newly qualified tenants.

Was also able to convert a 1 bedroom to a 3 bedroom

With also raising rents it is currently bringing in 4,200 per month

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

Own a property close by

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

Off market using direct marketing.

How did you finance this deal?

Private money

How did you add value to the deal?

Raised rents and converted a 1 bedroom to a 3 bedroom

Lessons learned? Challenges?

Evictions are not fun!