Buying a Fourplex with your AMEX

[Andrew Lekowski]

Investment Info:

Small multi-family (2-4 units) other investment in Enterprise.

Purchase price: $32,500
Cash invested: $50,201

Purchasing a foreclosed Fourplex in cash, rehabbing using 0% APR credit cards, and lessons learned along the way!

How did you finance this deal?

My wife and I saved up enough money to purchase this property in cash! Given the condition of this property, we were able to snag it for $32,500 less the renovation costs. For the renovation, we decided to used 0% APR business credit cards to get free financing, earn signup bonuses, and keep liquid cash reserves during the renovation. We put in around $20,000 on the rehab, and are in the process of refinancing now!

How did you add value to the deal?

Pure sweat equity, with a head to toe full rehab. Check out the pictures!

What was the outcome?

Although we have yet to get this property appraised, we are expecting the ARV to fall within the $150,000 range given comps of the area.