Single Family to a Multifamily

[Daniel Spalding]

Investment Info:

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

Purchase price: $395,000
Cash invested: $79,000

Currently a single family. Changing to a multifamily.

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

Layout of the house

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

Found it on MLS. I used the deferred maintenance and the amount of time it sat on the market.

How did you finance this deal?

Conventional Loan with a 20% deposit.

How did you add value to the deal?

I am currently changing the layout of the house to make it more than a single family home.

What was the outcome?

In progress

Lessons learned? Challenges?

Get an engineer ASAP.