This is our 6th property we added to our portfolio

[Carlos M.]

Investment Info:

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

Purchase price: $500,000
Cash invested: $100,000

This is an 8 unit property. The rent were all 200 a month under the market. Most of the units were renovated prior to the purchase.

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

It was our largest deal at the time, and the rents being so low.

How did you finance this deal?

We used a typical commercial loan with 10,000 seller help in closing cost.

How did you add value to the deal?

Renovated the remaining apartments and raised the rents to market rates.

What was the outcome?

We increased the value of this property from 500,000 to 800,000!

Lessons learned? Challenges?

We learned how to deal with bed bugs on this project.