Complete rehab for future student housing

[John Crutsinger]

Investment Info:

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

Purchase price: $290,000
Cash invested: $290,000

Single family front house 4 bd, 2bd back unit. Complete rehab down to studs. Current LTV, 39% annualized return 8.93%.

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

Cash flow

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

Tracked down owner of expired listing

How did you finance this deal?

Cash then cashed out refi

How did you add value to the deal?

Comps

What was the outcome?

Good cash flow great rental stability, appreciation

Lessons learned? Challenges?

Work flow in Wilmington NC