1613 Hillcrest Rd Cleveland Heights, OH

[Chris Hines]

Investment Info:

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

Purchase price: $73,000
Cash invested: $25,000

Triplex that I bought. Original owner was supposed to fix POS and I'd buy at $105k - 6 weeks later, said he wouldn't do it, and I negotiated a discount down to 73k. Did POS repairs and have been renting ever since. Older house (100ish), so plenty of maintenance and upkeep, but have been making small amounts of money and it's now valued around $140k.

What was the outcome?

Currently holding property as long term rental.

Lessons learned? Challenges?

Managing contractors is hard from 2000 miles away.