Downtown Jersey City Multi Family Brownstone
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Jersey City.
Purchase price: $1,500,000
Cash invested: $650,000
Lovely two family brick townhouse, built in 1895, located within a ten minute walk to Path trains into Manhattan.
What made you interested in investing in this type of deal?
I wanted to own a multi property in downtown and have a large chunk of mortgage offset by a rental unit.
How did you find this deal and how did you negotiate it?
On the MLS. I negotiated the price down $95k.
How did you finance this deal?
Cash and Mortgage
How did you add value to the deal?
Working on some renovations and making it a turn key investment.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I was the agent on the buy side.
