Older 1980's Four Plex

[Brian Christopherson]

Investment Info:

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

Purchase price: $365,000
Cash invested: $5,000

Older 4 plex (1983)
3 2bd
1 3bd
on site pay washer dryer

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

I found out that I could use my VA more than once, and that fast tracked my long term interest in investment properties

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

We had been looking earlier for a 4plex without much luck, and had put it on the back burner temporarily. My agent happened onto this one several months later, and we jumped on it. Not much in the way of negotiating on this one. The price was where we needed it to be, and I liked the location.

How did you finance this deal?

This was a VA deal

How did you add value to the deal?

We have since started to do some improvements, but still a work in progress

Lessons learned? Challenges?

Older units always need repairs, and the remodels I'd like to do to make it nice don't make financial sense, so long term we will probably have to sell it and get into one at a better LTV

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

We used Amanda Charles who was fantastic.