Two For One on this Deal

[Mike Hodges]

Investment Info:

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

Purchase price: $44,000
Cash invested: $75,000

This was a huge undertaking, but the risk reward ratio worked out great. This property was in terrible condition, however will a little vision and hard work it paid off. This deal included a a older home and a mobile home each with a separate septic tank and county water. After extensive clean up and rehab these two rentals generates $1,700 per month.

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

Cash Flow!

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

Replied to a for sale by owner sign.

Lessons learned? Challenges?

Having a vision of the outcome and overlook the work that must be done to achieve it.