Socal Rat Infested Rehab

[Mickey Petersen]

Investment Info:

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

Purchase price: $575,000
Cash invested: $218,750

This was a tough one. Im sure there are worse properties out there to start with. But this was a project. Rat infestations. Huge junk removal needed. Things like that. But we moved out the low rent tenants and after the rehab we filled all units with market rent tenants.

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

Obvious value add opportunity

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

Off market dial that our agent brought us.

How did you finance this deal?

Partial funds from a 1031 exchange. The rehab we used our own private funds for.