Six Family in Upstate New York

[John Bonhomme]

Investment Info:

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

Purchase price: $150,000

6 Family came with prop manager

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

6 family mostly rented with off street parking mostly rented with live in property manager

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

Estate Sale

How did you finance this deal?

Cash

How did you add value to the deal?

Put better systems in place. Added rules and metrics to property management.

What was the outcome?

Cash Flows Monthly

Lessons learned? Challenges?

Having a property manage on site has it's plus and minuses. They become very possessive of the property.

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

Scott Warren

[John Bonhomme]

Hey @David Kiszka,

This property is in the "Catskills" of New York. A town by the name of Deposit. It was a great deal off an estate sale. Property cash flows well.