It pays to let people know what you’re doing!

[Lee Gierszewski]

Investment Info:

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

Purchase price: $172,000
Cash invested: $34,000
Sale price: $172,000

I found this off market triplex from a friend at the gym who “knew an older lady” looking to move on. We got it under contract for 172k. Current rents are at $2450/mo. It appraised at 210k two weeks after we got it under contract. We are going to refinance out of current loan & take it up to 80% ltv and take almost all of our initial investment out and search for the next deal.