Seven Unit Property Knoxville

[Peter Pratti]

Investment Info:

Large multi-family (5+ units) buy & hold investment in Knoxville.

Purchase price: $279,000
Cash invested: $77,500

This is a 7 unit property we purchased in April. The rents were about 4,100 upon takeover. Currently, the rents are 4,700 per month, increasing the value of the property.

This property has some construction going on on the road in front of the property. Once the construction is complete we plan to sell or refinance the property.

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

This was our first deal. The good cash flow made this a no brainer.

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

We found this deal through direct mail marketing for wholesale deals.

How did you finance this deal?

Through a local portfolio bank.