Second two family investment property

[Michael Wallace]

Investment Info:

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

Purchase price: $105,000
Cash invested: $30,000

2 family side by side house I bought as a foreclosure. Fixed it up and now brings in a gross monthly rent of $2,450

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

I was searching forclosures, found this house and saw the value in it.

How did you finance this deal?

Bank financed, 20% my own money

How did you add value to the deal?

Made some repairs, cleaned it up and got both units rented with great ROI