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Updated about 1 year ago on . Most recent reply

User Stats

25
Posts
35
Votes
Ethan Wilson
  • Investor
35
Votes |
25
Posts

Seller Financed 5plex in Elkmont, AL

Ethan Wilson
  • Investor
Posted

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $200,000
Cash invested: $80,000

This is a 5plex we bought back in November just outside of Athens, AL (about an hour from Huntsville). We put 50k down, 30k in renovations, and the seller financed 150k at 5%. When we bought it, there was 1 unit occupied, bringing in $340 per month. Two months later, it was fully renovated and 100% occupied bringing in $3,500 per month. We estimate its value to be over 400k, so we plan to refi and put the proceeds into the next deal!

Most Popular Reply

User Stats

46
Posts
20
Votes
John Otradovec
  • Lender
  • Springfield, MO
20
Votes |
46
Posts
John Otradovec
  • Lender
  • Springfield, MO
Replied

Congrats! You did everything perfectly. I love to see projects work out and I have been a HML for 20 yrs and also flip houses on the side. This is exactly what everyone tries to do so good work. If you want to talk about 75% cash out options just let me know!

Thanks,

John Otradovec

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