Updated over 1 year ago on . Most recent reply
First Multifamily purchase
Investment Info:
Large multi-family (5+ units) buy & hold investment.
Purchase price: $1,300,000
Cash invested: $260,000
25 unit apartment complex
What made you interested in investing in this type of deal?
I am looking to grow my multifamily investments in the St. Louis/0Fallon/Belleville area.
How did you find this deal and how did you negotiate it?
Used a realtor to find and negotiate this deal.
How did you finance this deal?
Small town lender familiar with the property.
How did you add value to the deal?
Rehabbing units as tenants vacate.
What was the outcome?
Able to improve vacancy rates.