rental property investment

[Mitch Hoefar]

Investment Info:

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

Purchase price: $246,000
Cash invested: $80,000

A 4 plex built in the 80's. 1 apartment has been remodeled from floor up, new appliances, all others have been minimally upgraded. It resides on the college bus route with a nice park just down the street. shopping and eateries close by

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

extra income and taxes

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

found through a realtor

How did you add value to the deal?

upgrade on flooring and paint. 1 apartment remodeled floor to ceiling with all new appliances

What was the outcome?

my rents have increased from 650 to 850 at present

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

Realtor, Dawn Selix broker\agent . freedom realty