First 4 family - buy and hold

[Mason Crossland]

Investment Info:

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

Purchase price: $152,000

Brick 4 family in the heart of Norwood, OH. All units are 1 bed 1 bath with coin operated laundry and 2-2 door garages under the building, 1 of which is rented out.

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

I liked our duplex so I thought that buying a larger building with more units would be even better.

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

I found it thru my now realtor.

How did you finance this deal?

30 year fixed

How did you add value to the deal?

minor fixes. Major plumbing repairs and some minor boiler updates were needed.

What was the outcome?

Showed long term tenants that this building is a priority, so rent increases are easier.

Lessons learned? Challenges?

be present, and look hard at questionable items that may or may not be brought to your attention.