First deal ever! 7-unit monster complex

[Keven Vanegas]

Investment Info:

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

Purchase price: $180,000
Cash invested: $50,000

Huge multi-family commercial lot with 5 structures which make up 7 apartment units. Lot is big enough to allow more units to be built.

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

We lived down the street from this property and took a chance on it.

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

Once we decided to invest in real estate, we started thinking bigger! Since this place was so close to us, we drove by it so many times that we began to inquire about it. We developed a wonderful relationship with the previous owner and began negotiating!

How did you finance this deal?

Commercial funding was our source for finance on this deal.

How did you add value to the deal?

We are fixing/updating each unit up as they become vacant