8 Sheldon place development

[John Janoski]

Investment Info:

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

Purchase price: $55,000
Cash invested: $60,000
Sale price: $205,000

Buy and hold, $115,000 total invested. New appraised value as of 12-1-2023 $205,000. Gross rents $2500. Funded deal out of pocket.

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

My area has a huge lack of rental inventory with many properties needing this type of renovation.

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

Private sale

How did you finance this deal?

Cash out of pocket

How did you add value to the deal?

Complete gut renovation inside and out.

What was the outcome?

Huge value add $115,000 invested new value $205,000 as of 12-1-2023. Building gross rents $2500

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

No