Old falls remodel and current status

[Carter Trombley]

Investment Info:

Other buy & hold investment.

Purchase price: $120,000
Cash invested: $60,000

417 old falls blvd is a multi use property having office/ warehouse spaces on 1st floor and a 3 bed 1 bath apartment upstairs.

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

pre existing partnership on another commercial property

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

seller approached my partner wanting to sell an outdated car repair shop. we negotiated the deal from $170,000 to $120,000 being as we needed to put in some serious remodeling.

How did you finance this deal?

private lending with a third partner being added to the company.

How did you add value to the deal?

I spearheaded the remodel and did majority of the interior remodel work.

What was the outcome?

currently fully rented and waiting to collect!

Lessons learned? Challenges?

learned a lot about construction and improving my efficiency and knowledge.