Second Investment to Grow

[Joey Barcelos]

Investment Info:

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

Purchase price: $145,000
Cash invested: $14,500

4 unit multifamily that the original owner had kept up meticulously! There is a garage that had potential for extra income.

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

Had purchased a similar property on the same street and found it great for cash flow and life style support

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

This deal came from my brother who is a real estate agent. He finds the deals as soon as they come out and it gets analyzed and we pounce when the timing is right

How did you finance this deal?

Cashed out of first deal and used that as down payment.

How did you add value to the deal?

Deleaded the apartments and attracted families along with renting out the garage as storage space.

What was the outcome?

It is a great cash flow property that we have refi'd over the years to purchase more properties and sustain a comfortable life style.

Lessons learned? Challenges?

When you ues the money you have made from other properties it makes the return exponential!!

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

I work solely with my brother now and would recommend him to everybody!! BTW he has also become a partner in all of my future deals...