Coolidge AZ Multi-Unit

[John Ervin]

Investment Info:

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

Purchase price: $25,000
Cash invested: $120,000

Older 1 bedroom Triplex and single family 2 bedroom home on 1/2 acre

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

Before we purchased this property I always viewed it as a cash cow as I knew the 2 previous owners of the property - this property allowed them both to retire early. After years of ownership I have learned quite a bit about this type of investment and my original view holds true - cash cow.

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

I was simply at the right place at the right time with the right people, I heard about a private foreclosure and had knowledge of the property - as soon as I heard I took action and sat down with the seller - you would like how much? Ill take it.

How did you finance this deal?

I borrowed the initial investment from family, over the years the property has paid for most of its rehab.

What was the outcome?

Likely one of the best decisions of my life moving to invest in this property. This was our first step into the investment world - since then several sound opportunities have been presented and acted upon - major change in our lifestyle.