Small Multi-Family (9 Units) - Fixxer Upper

[Kim H.]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $395,000
Cash invested: $620,000

This was a 9 unit multi-family with a combination of attached townhomes and single family homes. All needing full remodels.

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

Entry into small multi-family

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

MLS

How did you finance this deal?

I didn't finance

How did you add value to the deal?

Remodeled all 9 units

What was the outcome?

Still own and it stays occupied and is a great cash flow

Lessons learned? Challenges?

My general contractor ran off with some money after I found out he was just picking up workers on the corner every day who knew nothing about construction

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

I am a real estate broker