Not a bad purchase

[Ophelia Wilson]

Investment Info:

Small multi-family (2-4 units) note investment investment in Seville.

Purchase price: $325,000
Cash invested: $40,000

4plex updated the inside with new flooring, paint, lights, a few fixtures and did maintenance on all the appliances and systems. I am at a 50% capacity right now. Home was also appraised for more with the raggedy floors and smell as well so im thinking i may sell and get a SFH

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

Was curious to see how lucrative the 4 plexes are and how much more time it would require as well as to see the sah flow difference

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

RE Agent so I found it through Networking/ lead with another agent

How did you finance this deal?

BRRR & Note

How did you add value to the deal?

Rennovating ( Paint, system maintenance, new flooring)

What was the outcome?

Place is operating ok

Lessons learned? Challenges?

Do not take short cuts and do a proper hand off. Check and write off everything especially when inheriting tenants make sure their data/ information transfers with you or they fill out new intake sheets and it be readily available at closing.

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

Self