8 unit apartment building Kansas City Mo 100% occupied Section 8 rental

[Larry Myer]

Investment Info:

Large multi-family (5+ units) fix & flip investment.

Purchase price: $100,000
Cash invested: $300,000

This is a two story 8 unit apartment building that the previous owner walked away from. Purchased directly from bank. Total renovation roof to basement.
100% occupied section 8 rentals from two local agencies. For sale.

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

I have been investing in urban core real estate for 40 years.

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

Legal Aid of Western Missouri working for the neighborhood association. I am a major investor in the area. They contacted me. Negotiated directly with the bank

How did you finance this deal?

Cash purchase

How did you add value to the deal?

Major top to bottom renovation

What was the outcome?

Stunning 8 unit building that is now the pride of the neighborhood.

Lessons learned? Challenges?

What ever you think you are in for there are always surprises. Accept it.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I have 40 years of experience and have done many buildings like this over the years. I have my own crews and I self manage.

This is for sale. Please contact me directly for financials and asking price.

[Alex Olson]

Looks good. If an investor loves section 8, this is an easy one to get into. Just gotta make the numbers work for both buyer and seller.