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Updated 4 months ago, 08/14/2024
Buy and hold exit
Investment Info:
Small multi-family (2-4 units) buy & hold investment in College Place.
Purchase price: $250,000
Cash invested: $15,000
Sale price: $385,000
This triplex is my first deal. I was able to partner with my parents to secure funding for the down payment via their HELOC. I pay them interest-only payments allowing me to maximize cash flow. I have slowly worked on improving management to increase cash flow from $0 to ~$800/month currently. I pour all cash flow back into the property, slowly renovating and increasing rents.
After small renovations and improvements I decided to sell after moving away.
Sale price: $385,000
Return on capital invested: ~717%
What made you interested in investing in this type of deal?
Initially intended as a long term hold
How did you find this deal and how did you negotiate it?
Found on Craigslist, direct to seller.
How did you finance this deal?
FHA+ partner money
How did you add value to the deal?
Small renovations over time
What was the outcome?
Sold for $385,000
Lessons learned? Challenges?
I had no money when purchasing so I skipped inspections which was a big mistake.