1st Multi Unit Investment Property

[Gerry Logan]

Investment Info:

Large multi-family (5+ units) commercial investment investment in Milwaukee.

Purchase price: $450,000
Cash invested: $170,000

10 unit Multifamily property

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

Property had a combination of low rents and deferred maintenance. Perfect opportunity to create forced appreciation.

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

Found thru a Real Estate Broker.

How did you finance this deal?

Deal was financed through a local bank.

How did you add value to the deal?

Changing the roof, remodelling all units and raising rents to market rates.

What was the outcome?

Still in process. Deal is set to close on September 25, 2020.

Lessons learned? Challenges?

I was able to learn all the steps of purchasing a commercial multi unit property, how the value is assessed, how banks assess the value, etc.