Fix & hold apartment building turned into a flip

[James Montague]

Investment Info:

Large multi-family (5+ units) fix & flip investment.

Purchase price: $175,000
Cash invested: $175,000
Sale price: $555,000

abandoned 6 unit apartment building - full gut remodel with all new mechanicals, roof, electric, plumbing, etc.

Fully occupied with a 17% CoC return but resident profile did not allow me to self manage so I sold it to payoff all other company debt

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

Realtor brought it to me off-market as original buyer fell through

How did you finance this deal?

Hard money rolled into a commercial loan while I held past 1 year.