Property number 3

[Sanusi Kamara]

Investment Info:

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

Purchase price: $640,000
Cash invested: $220,000

Purchase price $640,000
Got it at this price because there is a non-paying tenant in unit 2 (rent value $3,500), we're in court
Rehab $60,000
All in cash (rehab plus down payment) $217,500
Rehab included ground level basement and 2 parking spot driveway
Monthly cash flow $1,500
ARV $950,000
Equity $470,000

Refi cash out (August 2024) $150,000 (used to buy new rental)
New monthly cash flow breaking even (non-paying tenant still in unit 2)
New equity about $200,000