2nd multi unit investment

[Keri Aiken]

Investment Info:

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

Purchase price: $36,000
Cash invested: $10,000
Sale price: $90,000

2 Unit rental both with one bath and 1 full bedroom 1 walkthrough bedroom. Nice neighborhood

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

the price and it was turnkey

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

The bank that mortgaged our other investment property brought it to our attention, it was a foreclosure.

How did you finance this deal?

Investment/conventional Mortgage with a cash down payment

How did you add value to the deal?

Holding the house and we kept it in good repair

What was the outcome?

We sold, again management issues and we were out of state.

Lessons learned? Challenges?

Wish we didn't sell and just were able to put together a strong team.
Distance and time were big challenges.