C class eight unit in Columbus Ohio

[Trent Ecklar]

Investment Info:

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

Purchase price: $380,000
Sale price: $488,000

Purchased in 2019, sold in 2020

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

Monthly cash flow made me interested in this deal. Did not plan on any appreciation. Due to lack of multi-family inventory a year later decided to put on the market.

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

MLS

How did you finance this deal?

Local lender - The Savings Bank

What was the outcome?

Sold with 5 offers in the 1st weekend

Lessons learned? Challenges?

Enough cashflow for the expenses but a lot of drama in C class. Having a property manager that can deal with all the challenges is critical.