Aftermath - 16 Unit Distressed Renovation in Great Location

[Chris Gantz]

Investment Info:

Large multi-family (5+ units) fix & flip investment in Baraboo.

Purchase price: $500,000
Cash invested: $300,000
Sale price: $1,200,000

Highly distressed property purchased from an estate sale. Son and daughter inherited the property and let it go. There were maybe 5 tenants in place out of 16 and the property condition was heavily distressed. There were dead animals, standing water, mold, etc...

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

High return opportunity.

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

MLS

How did you finance this deal?

Cash

How did you add value to the deal?

Renovated all units. Updated flooring, cabinets, lighting, and vanities. Painted interior and seal coated driveway. Installed new landscape. Filled the building with high quality, qualified tenants.

What was the outcome?

Intended to buy and hold for a long period of time. Was made an offer we couldn't refuse within two years after the project was completed.

Lessons learned? Challenges?

Sweat equity is an incredible way to super charge returns.

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

Marcus Mitchell out of Baraboo, Wisconsin has worked with on a large number of deals and is always fair to buyers and sellers.

[Scott Rogers]

Amazing work @Chris Gantz