Run Down 5 Plex Purchase and Rehab

[Kirk Koskiniemi]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $255,000
Cash invested: $100,000

Bought a distressed 5plex. Going to rehab basically down to the studs.

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

Realtor. Negotiated with cash down and owner finance. Pushed the benefits of fixing it up and improving the neighborhood, and the seller really liked that idea.

How did you finance this deal?

100k down, owner finance on 7 year note.

How did you add value to the deal?

In the process of spending approx 60k on complete rehab (doing most of the work with my partner and myself).