2nd Turnkey Deal in KCMO

[Travis Limbocker]

Investment Info:

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

Purchase price: $145,000
Sale price: $183,500

Contributors:
Robert Musallam

Acquisition and exit strategy: Buy and Hold. Financing: Traditional: Business Plan: acquire turnkey and learn how to be a landlord

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

First purchase was a duplex. Line of thinking was, "why not double up on the next purchase?"

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

Same turnkey provider that we worked with to acquire our first duplex, had a contractor and real estate investor partner on the ground in KCMO. With my business partners, we flew to KCMO to meet that contractor and he informed us he had an upcoming fourplex available while having a drink with him and his wife. Agreed on a buy price without any brokers or third parties.

How did you finance this deal?

Traditional financing with the same lender as our first duplex.

What was the outcome?

Ended up selling the property as a package with another Duplex when we discovered natural appreciation would provide us a good return. The profit was tagged for scaling out commercial real estate endeavors.