City block in Delaware ohio

[Matt Hildebrand]

Investment Info:

Other buy & hold investment.

Purchase price: $425,000

City block including 3 single families a 2 unit and 3 block buildings and 3 vacant lots 10 separate Propertys

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

It is in my farming ground in the city of Delaware ohio

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

Whole seller told me about it and I gave a evaluation of 450000 and he take that Ofer to the seller

How did you finance this deal?

Portfolio loan from a local bank for 100% of the loan by adding them as a lean holder on my personal home that has 600000 in equity

How did you add value to the deal?

I seen that all the leases were month to month and at half of Markit rate

What was the outcome?

I signed all tenets to closer to market rent and got security deposits

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

Jeff Koltz at home Vesters he is a dp member . He keep the seller in the deal and deliver what we agreed on I highly recommend working with him