4 Family Fix & Hold

[Christian Bastidas]

Investment Info:

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

Purchase price: $295,000
Cash invested: $400,000

4 family property

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

The quantity of units and location

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

off market deal, paid tenants to vacate (cash for keys)

How did you finance this deal?

private lender

How did you add value to the deal?

Renovating each unit with quality finishes, solid wood doors, vinyl plank floors, kitchens with stainless steel appliances & granite counter tops

What was the outcome?

Increased rents , property value increased after value was added

Lessons learned? Challenges?

over estimate your construction budget for unforeseen repairs

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

West Hoboken Residential