6 apartment multifamily

[Ed McIver]

Investment Info:

Large multi-family (5+ units) buy & hold investment in New Windsor.

Purchase price: $372,500

This is a very old building but it cash flows well

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

cash Flow

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

3 months

How did you finance this deal?

Bank Loan

How did you add value to the deal?

I am raising rents as quickly as possible. The building was also neglected. I want to complete much needed upgrades to increase the rent and reduce maintenance.

Lessons learned? Challenges?

The insurance company gave us a list of issues they wanted addressed. This was unexpected. I have a list of improvements I want to make but the building is currently occupied and cash is tight after the 25% down payment.