4 Humble Condo Units

[Chris Murdien]

Investment Info:

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

Purchase price: $1,600
Cash invested: $8,000

Four 1 bed, 1 bath condo units

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

It was a friend who was distressed

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

It was brought to my attention; it was given to me.

How did you finance this deal?

Credit card

How did you add value to the deal?

Fixed up each unit as it became vacant and rented it out.

What was the outcome?

Good cash flow, decent tenants; 75%+ equity in each unit.

Lessons learned? Challenges?

HOA property managers power trip

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

I recommend having an attorney on deck. The previous property manager and the new property manager tried to get me to pay for $3700 gate damage. This is in addition to the previous property manager stealing rent and depositing the tenants deposits into the condos HOA without my permission.

anyways, click the link below to get your legal shield account if you're planning to invest in real estate.
https://checkout.legalshield.com/?associate=128770906