8 unit residential investment

[William Deterling]

Investment Info:

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

Purchase price: $202,000
Cash invested: $150,000

8 unit bldg

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

Price and improvements looked to be a great long-term investment bldg

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

Bldg was casually mentioned while looking at another property. Full price offer was accepted

How did you finance this deal?

Conventional commercial

Lessons learned? Challenges?

Finding honest tradesmen. Electrician was great. Home inspection was a joke, as I found out later with the city inspector. Had to rewire building before new tenants could move in.

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

No