4 plex purchased from turn key provider

[Clay Gradis]

Investment Info:

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

Purchase price: $330,000
Cash invested: $150,000

4 plex, all 2 bed, 2 bath units in townhome (upstairs bedrooms downstairs kitchen and living space) formation.

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

I love multi-family and am trying to build a large enough portfolio to replace my W-2 income.

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

Memphis Invest had this property available.

How did you finance this deal?

I bought it with a non recourse loan through a bank.

How did you add value to the deal?

I haven't added value, I bought it and am renting it.

What was the outcome?

It's a great rental property in a great location, I plan to give this to my heirs in my will.

Lessons learned? Challenges?

I bought this with my Self Directed 401k, while I love the property and think it was an excellent deal I don't think this is the best use of my retirement funds. I should have purchased this with my W-2 earnings and invested my retirement money into private lending or syndications.