First Large Multi-Family Purchase

[Britain Sorensen]

Investment Info:

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

Purchase price: $1,050,000
Cash invested: $180,000

18-Unit Apartment Complex currently being completed renovated.

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

It is a distressed property we picked up for cheap. After renovations are completed we should be able to refinance and get most of our original investment out.

[Caleb Rigby]

@Britain Sorensen, congrats! I'd love to understand some of the numbers, as I'm trying to learn more about large multi-units in Utah. 

What will you cash flow each month? Are you managing it yourself or will you hire a property manager? Are any of the 18 units currently occupied?