15 units in Des Moines, off market property.

[Matt DeBoth]

Investment Info:

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

Purchase price: $750,000
Cash invested: $0

15 unit building near Drake University. Will be increasing rents and and doing some minor rehab to a few units. New laundry equipment and toilets then sell or refi to the next adventure!!!

How did you finance this deal?

$0 down and the seller gave me $10,000 at closing to do the minor rehab work AND got my $10k Ernst money back at closing. Cross collateralized other complex’s.

What was the outcome?

After stabilized will be looking to sell or refi for the next project.

Lessons learned? Challenges?

There are so many deals out there when you network with the right people.