Sold a two unit property

[Shawn Ginder]

Investment Info:

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

Purchase price: $37,000
Cash invested: $10
Sale price: $47,500

Sold 2 unit

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

The cashflow

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

Craigslist for sale by owner, when talking to the owner mentioned he had another property wanting to sell that wasn't advertised

How did you finance this deal?

private loan from uncle

How did you add value to the deal?

rehabbed entire second floor unit, raised rent an place new tenant.

What was the outcome?

got out of the deal not losing money.

Lessons learned? Challenges?

Location is key to success, this property wasn't in a great neighbourhood, grateful to get out without losses.