3 Family Unit in Good Area of Trenton. Next block is in Lawrence

[Amit Shah]

Investment Info:

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

Purchase price: $115,000
Cash invested: $150,000

Property Bought from Short Sale. Turned out to be a good investment.

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

So, this was in good part of Trenton. And Next to Church.

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

It was in sale by owner and i called the owner. He explained his personal problem and why this is in short sale. I explained him that i am an Agent and buying for my wife since Banks prefer that Agents deal in short sale properties. I negotiated a cash deal.

How did you finance this deal?

It was financed through equity line of credit of my primary home.

How did you add value to the deal?

By removing the current tenants who were problematic. not paying on time. and put all 3 new screened tenants. and touch wood... no problems. I also added 2 garages in back yard since the original big garage was too bad that u cannot even go inside.

I am renting one for $150 per month.

What was the outcome?

It turns out to be a great investment with cash flowing in.

Lessons learned? Challenges?

Old Tenants. Don't take seller's word about old tenants or put the budget for removing them or spending your time, money and energy with them.

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

No. I myself was the Agent in this Deal.