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Updated over 4 years ago on . Most recent reply
Four Plex Huntsville
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Huntsville.
Purchase price: $226,000
Cash invested: $226,000
Was bought with a self-directed IRA so bought it out right to avoid the UBIT tax. Has been cash flowing and a solid consistent investment.
What made you interested in investing in this type of deal?
Decided to change a profit sharing plan into a self-directed IRA.
How did you find this deal and how did you negotiate it?
It was on the MLS
How did you finance this deal?
ALL Cash
How did you add value to the deal?
It was in good shape when I bought it just had some minor cosmetic and drainage issues
What was the outcome?
Has consistently produced income and been a stable investment in a great area
Lessons learned? Challenges?
It was the first time buying out of state and continued to build my confidence to go on to buy my first commercial deal out of state.
Most Popular Reply
Congrats @Nick Robinson!
Did you pull some cash out of this deal given that you bough in 2017 and I am sure it must have appreciated like crazy since then.
Can you share the zip and some more details on the numbers. Is each unit a 2/2 or 2/1 and whats the rent on each unit.
Just curios, did you buy more properties in Huntsville after this amazing deal?