Start of real growth in real estate investing

[Joey Barcelos]

Investment Info:

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

Purchase price: $460,000
Cash invested: $52,000

7 unit multi family in B class neighborhood

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

Growth of portfolio

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

Brother is a realtor and part of my investment group

How did you add value to the deal?

Upgraded property with windows and heating system. The rent role was very low and raised it slowly...

What was the outcome?

The retention of residents has been great. We have had 3 of the 7 residents since we purchased it, the rest have been there for 3 years plus...

Lessons learned? Challenges?

Bigger doesn't make it more difficult just more profitable