Southern Orchard double

[David Yoder]

Investment Info:

Small multi-family (2-4 units) wholesale investment in Columbus.

Purchase price: $65,000
Sale price: $75,000

952 Stanley has a renter in place for $600/month (month-to-month).

This Southern Orchard area is appreciating quickly and there are multiple single family flips occurring in the $200-$300k range (higher end finishes - Granite, stainless steel, tile showers, etc.). I believe that an ARV of $150-$175k is a conservative estimate after completion. Rent is currently at $600/month but should be at $750-$800/month once the units are completely cleaned up.

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

I'm a landlord and this property was almost stabilized.

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

I was calling bandit signs and a new wholesaler had this lead

How did you finance this deal?

I didn't have to.

How did you add value to the deal?

Did my due diligence and marked the property

What was the outcome?

Someone in network got a great deal.

Lessons learned? Challenges?

Never sell to a newbie, write a contract for 45 days and market it widely early.