Leslie St Newark 2-Family
Investment Info:
Small multi-family (2-4 units) fix & flip investment.
Purchase price: $140,000
Cash invested: $5,000
Sale price: $280,000
Will probably sell to buy-n-hold investor. Needing to raise some capital at the moment.
What made you interested in investing in this type of deal?
I was offered the property by a hard money lender who took it back from previous buyer
How did you find this deal and how did you negotiate it?
See above
How did you finance this deal?
Residential Capital (HML) lent us the money to buy and the rehab $
How did you add value to the deal?
new kitchens, bathrooms fix garage, put tenants in
What was the outcome?
I will let you know in 2 months
Lessons learned? Challenges?
I need to be careful that my partner is in as big of a hurry as I am!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
So far Rescap has been very helpful to us. I also have a great agent who will help us sell when completed.