I bought a neglected 6 unit property.

[Alan Cole]

Investment Info:

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

Purchase price: $165,000
Cash invested: $32,000

1820 Leland is a triplex built in 1900. It has 3, one bedroom/one bath apartments.
1822 Leland is a triplex built in 1960. It has 2, three bedroom/2 bath apartments and a detached 3/1 unit in the back. Both properties sit next door to each other and were purchased with 100% occupancy.
Both properties have been heavily neglected and need work. Renovation is in process.

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

Passive income/cash flow

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

Found on MLS. Negotiated it personally.

How did you finance this deal?

Through Bank of South Carolina. Highly recommend. (Hugh Lane III)

How did you add value to the deal?

Renovation

What was the outcome?

In process. Will BRRRR property.

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

My wife acted as my agent.