3 Properties and 7 Units in 8 months!

[Antonio Cucciniello]

Investment Info:

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

Purchase price: $140,000
Cash invested: $140,000

I purchased this using cash from a partner who completed a cash out refinance on his property with me as a cosigner

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

Multifamilies are hard to come by especially with tenants in them!

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

I found it on the MLS and we started with a lower offer: they were asking 155K, but because of covid-19 their first buyer backed out and made us the runner up!

How did you finance this deal?

Using Cash

How did you add value to the deal?

Nothing Yet, but planning on doing some rehab to the outside

What was the outcome?

Goal is 900/month cash flow

Lessons learned? Challenges?

Challenges: we couldn't get a CO before the property went under so we had to accept the situation as is with some protections

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

My agent and Lender both!