Brick 4 Unit between OSU campus and Clintonville (Old Northe)

[David Yoder]

Investment Info:

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

Purchase price: $286,840
Cash invested: $9,933

Brick 4 Unit between OSU campus and Clintonville (Old Northe)

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

This building will be my retirement plan.

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

I bought at the top of the market but I was able to finance a 4 unit as an FHA owner occupant.

How did you finance this deal?

Found it off market

How did you add value to the deal?

I remodeled all units and raised rents to market.

What was the outcome?

It took longer than expected but it's finally cash flowing heavily.

Lessons learned? Challenges?

Don't fall in love with a property, fall in love with the numbers. I learned how to "really" analyze properties.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, my real estate agent discouraged me from buying this one and he was right at that time.