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Updated 7 days ago, 11/21/2024

Mickey Petersen's profile image
Mickey Petersen's profile image
Mickey Petersen
Pro Member
  • Investor
  • from Long Beach, CA
  • Member since Sep 5, 2017
  • Posts 43
  • Votes 27
  • Experience 6 Yrs
  • Investments 7
Connect

User Stats

43
Posts
27
Votes
Mickey Petersen's profile image
Mickey Petersen's profile image
Mickey Petersen
Pro Member
  • Investor
  • from Long Beach, CA
  • Member since Sep 5, 2017
  • Posts 43
  • Votes 27
  • Experience 6 Yrs
  • Investments 7
Connect
Mickey Petersen
Pro Member
  • Investor
  • Long Beach, CA
27
Votes |
43
Posts
Real Estate Deal Analysis & Advice

Socal Multifamily Flip

Mickey Petersen
Pro Member
  • Investor
  • Long Beach, CA
Posted

Investment Info:

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

Purchase price: $575,000
Cash invested: $218,750
Sale price: $775,000

This was a tough one. Im sure there are worse properties out there to start with. But this was a project. Rat infestations. Huge junk removal needed. Things like that. But we moved out the low rent tenants and after the rehab we filled all units with market rent tenants.

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