Multifamily Deal in Bradenton, FL

[Kevin Mendez]

Investment Info:

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

Purchase price: $557,550
Cash invested: $120,000

7 Unit Multi-family
-Purchased $122K under appraised value
-10% Cap Rate
-Grosses $9,000. Nets $5,000.

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

Purchasing $122k under appraised value. Immediate equity.

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

Through a real estate lawyer's foreclosure list.

How did you finance this deal?

DSCR- "Debt Service Coverage Ratio" Meaning that this investment property made more than what the mortgage was.

How did you add value to the deal?

-Negotiated during inspection period
-Rented 5/7 units to close (Currently fully occupied)