My first Multi-Family deal

[Anthony Dandridge]

Investment Info:

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

Purchase price: $725,000
Cash invested: $108,750

Two unit building.

- Top unit is a newly renovated 3bd - 2.5ba duplex up

- Garden unit is a 2bd - 1ba

The building has a 2 car garage located in the back

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

- The cash flow
- appreciation potential
- location (proximity of the United Center & Medical District)
- my own general knowledge of the area

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

Actually found it on Zillow.

I let my real estate agent do the negotiating

How did you finance this deal?

Mortgage broker

How did you add value to the deal?

Adding the tenants. The property itself was pretty much a turn key property

What was the outcome?

I successfully purchased the property and it is now fully occupied.

Lessons learned? Challenges?

The importance of purchasing right

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Carl Johnson with Century 21