Four Plex Off Market Purchase

[Tim Lynch]

Investment Info:

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

Purchase price: $460,000

Found this great 4 unit in a perfect rental area. Each unit is 2bd/1ba with a one car garage. I was able to finance this deal with private money and no money down!! We are currently cashflowing about $650 but have room to raise rents and walked into about $140,000 worth of equity!

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

This deal was brought to me by a wholesaler and it made lots of sense. After analyzing the numbers I was able to immediately earn $650 a month in cashflow and about $140,000 worth of equity. I then went out and was able to find private financing with no money down.

How did you finance this deal?

Initially it was financed with private money. After the appropriate time of seasoning I can refinance the property into traditional financing and cash out the private loan I got on the property. I will end up owning a four-plex for free!!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am a real estate agent myself and used my expertise to know this was a deal that could not be passed up.