7-Plex closed in Sioux falls

[Andrew Adam]

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $220,000
Cash invested: $55,000

I partnered with someone and it was our first deal with a wholesaler. It was taking on extra risk but since I have had some experience now we jumped in as the numbers appeared to be amazing!
Now I am managing this 7-plex and turning it around as far as deferred maintenance, upgrades, and managing it more professionally. It will be a heavy lift but the added value and cash flow will make it worth it. Plus it is always rewarding to make a run down place better and improve the neighborhood.