Bar and SRO

[Christopher Pray]

Investment Info:

Other buy & hold investment.

Purchase price: $60,000

Bar (leased) and 11 SRO units

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

Cash flow

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

MLS. Made offer day after it was listed. Negotiated after inspection.

How did you finance this deal?

Seller financing

How did you add value to the deal?

Made improvements to the building and raised rents

What was the outcome?

Still own it

Lessons learned? Challenges?

Treat it like a business, hired out work, improved tenant management skills