A Quad success through trial and error

[Gordon Green]

Investment Info:

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

Purchase price: $185,000
Cash invested: $20,000

Brick Quad in the Heart of Cincinnati. 4 Unit building, full renovation. Hardwood floors, New Kitchens, All new electrical, plumbing, roof. Have updated and maintained long term stable tenants.

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

We tackled this as our first official investment property seeing the city of Cincinnati pouring Millions into the area through capital. Our goal has always been to provide Affordable, Modern and Safe housing to local Cincinnati Families.

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

This was an off market deal we found through networking. We negotiated with the seller directly, managed to sweeten the deal with an agent commission (we got paid at closing to buy this!!).

How did you finance this deal?

We financed with traditional financing.

How did you add value to the deal?

We renovated the units upon turns adding in new modern designs.

What was the outcome?

We hold this property 6 years later and it cash flows very well. Rents have increased sharply over the last 3-5 years.

Lessons learned? Challenges?

After dealing with some terrible tenant situations. I've found that asking fro referrals from the current tenants can bring great results long term.

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

I am an agent here in Cincinnati.