How I feel in love with Real Estate

[Kirk Oneil]

Investment Info:

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

Purchase price: $3,500
Cash invested: $35,000

Bought at a sheriffs auction for very cheap invested $35,000 into it after finish rehab either going to heloc, or just plain refi. Property is worth $70k

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

The return rate and also multiple units where only one unit is needed to pay any mortgage or loan on the property and the other unit cash flowing made me interested in this deal.

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

Located this deal amongst a lot of other deals at the sheriffs auction.

How did you finance this deal?

All cash.

How did you add value to the deal?

Put $35000 of rehab into the property. Remodeled Kitchen, Bath, bedrooms, basement, updated electric, plumbing and HVAC.

What was the outcome?

Rent and refi

Lessons learned? Challenges?

Don’t be stuck on one contractor if there not doing what there suppose to be doing or got paid for.

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

No