516 Alexandria St Carthage NY

[Jonathan Gardner]

Investment Info:

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

Purchase price: $64,000
Cash invested: $3,500

We bought this for $64,000 on a land contract with only $5,000 down plus closing costs for 12 months. We refinanced in 10 months (Property appraised for $95,000) so we were actually able to walk away at closing with $11,000! We now have it on the market as of May 2023 for $124,900.

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

Very little out of pocket and separate utilities.

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

It was on the mls for over 2 years and they dropped the price again so i gave them the new asking price with terms

How did you finance this deal?

Land contract with a refi in 10 months

How did you add value to the deal?

bought under value