Looking for 30 year fixed rate mortgage

[Eugene Cornelius]

Investment Info:

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

Purchase price: $73,000
Cash invested: $80,000

Looking for help to refinance with tradition 30 fixed rate mortgage

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

Purchase price was deeply discounted and the renter turnaround is low

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

From friends who have invested in the community/ development

How did you finance this deal?

Own funds- was a foreclose and accepted my low cash offer

How did you add value to the deal?

Replaced all old carpets with wood flooring, replaced the vinyl in bathrooms with ceramic tile and updated the faucets; repainted entire unit; replace all kitchen appliances which were very old and rusted.

What was the outcome?

Looks great and refreshed and able to ask rent at the upper end of range due to these upgrades

Lessons learned? Challenges?

initially thought of keeping the carpet and cleaning it but learned that to ask woman's opinion has proven to be very valuable.

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

Yes