2208 E. Mulberry St

[Jalin Cassidy]

Investment Info:

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

Purchase price: $275,000
Cash invested: $70,000

I have a great team in Sioux Falls. I bought this property not to get a huge cash flow, but to have positive cash flow and to build equity.

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

I have been wanting to buy out of state, and this property was turnkey with a good location and ROI.

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

I was on Realtor.com every day, and finding a good team made all the difference.

How did you finance this deal?

Freedom Northwest Credit Union was willing to lend to me out of state.

How did you add value to the deal?

I raised rents $25 dollars a month on one unit and raised rents $75 a month on the other.

What was the outcome?

I got a cash flowing rental property.

Lessons learned? Challenges?

Make sure you get a good Profit and loss statement, and that all utility bills are up to date.

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

I was able to recreate a great team and Freedom Northwest Credit Union is really great to work with.