Historic District Woes

[Cynthia Bass]

Investment Info:

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

Purchase price: $175,000
Cash invested: $90,000

Actually a negative cash flow. One Parcel, two buildings, 4 apartments in historic district. Multiple infrastructure problems found and fixed. 2 long term tenants, 2 empty units.

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

4 units for less than the cost of 2

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

MLS via realtor

How did you finance this deal?

Conventional loan

Lessons learned? Challenges?

Never buy as-is; Do your homework on the property location and rules attached. Don't rely on due diligence of working with a licensed realtor.