Quadplex in Reno

[Wesley Pittman]

Investment Info:

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

Purchase price: $450,000
Cash invested: $130,000

Stabilized quadplex with mixture of STR and long-term rental. Performed cash out refi in 2021.

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

Good price point on great location with BRRR strategy feasible.

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

Wholesaler brought it to us.

How did you finance this deal?

Seller finance for 2 years in first lien and gap funding with an investor in 2nd lien.

How did you add value to the deal?

Remodeled two of the units completely, roof, mechanical systems, paint, etc. Spent like $130k and then just brought the two tenants that wanted to stay up to market rent.

What was the outcome?

Stabilized property that kicks off great cash flow in a phenomenal location.