4 plex, 2005 construction, long term hold

[Franklin Spees]

Investment Info:

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

Purchase price: $580,000
Cash invested: $145,000

4 plex, 2005 contruction, stucco, cement driveway, good condition long term hold.

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

Own a property management company and property owner moving out of state so I offered to purchase...was able to broker the deal and apply the commission toward the down payment.

How did you finance this deal?

Went in with another partner and we each put 50% down.

How did you add value to the deal?

turn key and self manage

What was the outcome?

Performing as expected as a long term hold

Lessons learned? Challenges?

Hitting doubles pay off in the long run...as opposed to waiting years on the sideline trying to hit a triple or home run.

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

I brokered my own deal. Actually Rocket Mortgage online was best rate and pretty convenient.