Four Family Purchase Done Right

[James Robert]

Investment Info:

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

Purchase price: $63,000
Cash invested: $23,000

This four unit property was on the market for $78,000. Through research we found out the seller was in a distressed situation, had not collected rent in over a year and three of the four units were vacant. We got an accepted offer for $63,000, and closed on Sept 9th with a hard money loan. Within 60 days we put $15,000 into the property, and fully rented out all 4 units. Currently the property is cash flowing more than $2,300 a month with a new adjusted property value of $150,000. Our current equity position is over $70,000 with a strong cash flowing property

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

I have always invested in 4 units!

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

I found it on the MLS

How did you finance this deal?

Private Lender

How did you add value to the deal?

Added $2,000 per unit ungrading the interiors

What was the outcome?

The result I wanted