Small single-family package

[Todd Schmutte]

Investment Info:

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

Purchase price: $160,000
Cash invested: $60,000

Purchased portfolio of four small homes on one street from two sellers. Use three of the homes as rentals and the fourth home was renovated and sold to an owner occupant.

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

Was to close to an existing multi-family I own. Looking to make another deal.

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

Listed for sale on the MLS - second seller approached me directly.

How did you finance this deal?

Investors

How did you add value to the deal?

Raise rents, cure deferred maintenance, gut and renovate largest home for resale.

What was the outcome?

The profit from the flip reduced the cash invested in the three rental homes kept.