four unit property in Mountain View Alaska

[Jordan L. Webster]

Investment Info:

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

Purchase price: $348,000

4 unit property bought with a zero down, 30 year fixed VA loan. Inherited three tenants. After a year, full turn over, three units remodeled and exterior starting in the second to third year.

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

The ARV/BRRRR aspect.

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

My team and I were able to negotiate a great deal because of the area and the divorcing owners.

How did you finance this deal?

VA Loan

How did you add value to the deal?

After $20K and two years of my own remodel and rehab, now an ARV of +60K on the low end.

Lessons learned? Challenges?

Don't go overboard with the repair. Repair based on the potential for rents or resale, no more.

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

Luke Higgins - Realtor
Steve Selgren, Titan Mortgage - LO/Lender
Discovery Home Inspection