3-Unit Multi family in Portage Park Chicago

[Abbas Mamdani]

Investment Info:

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

Purchase price: $430,000
Cash invested: $130,000

Bought a slightly run down property and spent $20k to bring it up to the code and some cosmetic stuff. Rented all 3 units out within 3 months of acquisition.

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

My best agent

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

My agent brought it up

How did you finance this deal?

25% down, 75% QM loan

How did you add value to the deal?

Did some renovation work

What was the outcome?

It came out great.

Lessons learned? Challenges?

Renovations could have been more targeted

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

Dan Nelson !