10 Unit Mid-Term in Small Market
Investment Info:
Large multi-family (5+ units) commercial investment investment.
Purchase price: $600,000
Cash invested: $225,000
Purchased a 10-unit multifamily property in Dayton, OH. Converted the whole building to Mid-Term rentals. Now the building is cash flowing over $5,000/mo. The building is now also valued at $950,000
What made you interested in investing in this type of deal?
The value add opportunity and ability to rent the unit mid-term
How did you find this deal and how did you negotiate it?
Found this deal off-market buy emailing property owners
How did you finance this deal?
Local bank financing 75% LTV, 20 year amortization, 5 year term, 6.75% interest rate
How did you add value to the deal?
Turned most of the units, furnished them, and rented them mid term
What was the outcome?
High cash flow property with $250k of forced appreciation
