Cheap taxes, great schools 10 minutes outside of a midsize city

[Scott Painter]

Investment Info:

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

Purchase price: $115,000
Cash invested: $23,000

4 unit bought site unseen when my wife had a job transfer. 3 of the 4 units were occupied when purchased and we lived in the 4th while remodeling our foreclosure home. I've had 35 days of unpaid vacancy in the last 3.5 years.

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

House hacking and needed a place to live while doing the foreclosure.

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

MLS the buyers agents husband had been a commercial broker for years and REALLY went to bat for us after the inspection.

How did you finance this deal?

Owner occupied at 3.5% 30 year

How did you add value to the deal?

Didn't have to.