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Updated 8 months ago,

User Stats

5
Posts
3
Votes
Shay Nabors
Agent
  • Real Estate Broker
  • Milwaukee, WI
3
Votes |
5
Posts

Buying Long Term Rentals Off-Market

Shay Nabors
Agent
  • Real Estate Broker
  • Milwaukee, WI
Posted

Investment Info:

Small multi-family (2-4 units) private money loan investment.

This duplex was purchased off-market, bundled with another duplex for below market value (off-market). I took out a private investor loan to purchase them, wholesaled one and refinanced this property. I plan to keep it long term. I effectively got it for free and was able to make some renovations as well, now this property cash flows and has great tenants.

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

I no longer qualified for traditional financing because I already own many rental properties and my DTI was high for the bank, so I purchased these in a business entity with a trusted private investor and was able to refi the 1st property/sell the 2nd property to pay back my investor and ultimately keep the better property for zero money down. I also funded renovation of both throughout this transaction and significantly improved the property/raised the rent to market.

  • Shay Nabors

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