First RE Deal, Derby Connecticut

[Angelo Pozzuto]

Investment Info:

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

Purchase price: $290,000
Cash invested: $80,000

First RE deal. Cash invested included only 20k money out of pocket. Rehab of unoccupied unit cost an additional 15k after labor and material. Still more available rent to be made due to Section 8 tenant still in home at under market rent. Cashflow is net of all costs, including higher interest rate on loan due to two homes on property.

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

Past family history, I knew buy and hold and a strategy would work in the market

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

MLS, negotiated through an agent

How did you add value to the deal?

Total remodel of one unit, added washer and dryer hookups in the basement