20 Unit Wholesale Deal - Vacant & Gutted

[Natalie Allen]

Investment Info:

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

Purchase price: $525,000
Sale price: $542,500

Property purchase price $525K, needs $350K in renovations. 20 unit apartment building. Separately metered electric, brick, garden style, all 2/1 until will rent for $750 each when completed.

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

The location

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

A banker brought the deal to me because ‘’no one else was interested”.

How did you finance this deal?

I assigned the deal to an end buyer.

What was the outcome?

I made a good chunk of change and got a lot of experience evaluating a large multi-family complete rehab deal.

[Natalie Allen]

@Yonah Weiss Feom first glance there was ‘nothing close to it’ but I found that just diwn ther street was a brand new home depot & meijer (grocery store) and many signs for new construction. This is why I kept working on it. The units now rent for $775/mo.