Last deal of the year/decade.

[Bridget Smith-Osbourne]

Investment Info:

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

Purchase price: $37,000
Cash invested: $87,000

This is my final project of the year. Just recently closed on a quad-plex. 1 bed. 1 bath, everything will be completely new, including plumbing & electrical. Each unit will rent for $550/month. Got this deal from a wholesaler who reached out to me to see if I wanted to sell one of my properties. Answer was no...but I told him to keep me in mind for deals he may come across. Paid $37K. Similar quad-plexes in this subdivision are on the market for $169K. Loving these value add deals.

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

I currently two other quad-plexes in this subdivision.

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

I got this deal from a wholesaler who reached out to me to see if I wanted to sell one of my properties. The answer was no...but I told him to keep me in mind for deals he may come across and so he did.

How did you finance this deal?

Used own cash

How did you add value to the deal?

Rehabbing property, Everything will be brand new.

What was the outcome?

Job is still in progresss

Lessons learned? Challenges?

Don't let fear stop you. Get several quotes from contractors and verify their licenses. Try and get bulk pricing by buying materials in bulk.