McAllen Fourplex Rental!

[Boone Tyson]

Investment Info:

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

Purchase price: $165,000

Found this off market while lead generating for seller listings. Waited about 2 months and offered 24k below listed price and paid all closing costs. Was able to partner with my brother and we got an owner occupant conventional loan so he could do a short-term house hack and then keep it rocking as a rental. Currently fully occupied.

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

The numbers looked fantastic and it is a nice single story brick unit with very little deferred maintenance.

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

I cold called an expired SFH listing and it ended being a fourplex owner who still wanted to sell. We waited about 2 months and made an offer. He took it

How did you finance this deal?

Conventional 25% down

How did you add value to the deal?

Nothing yet.

What was the outcome?

Great rental

Lessons learned? Challenges?

Learned the value of daily prospecting. You never know what you will come across if you are regularly making calls and lead generating.