Small Multi-family in Houston, TX

[Lee Hampton]

Investment Info:

Small multi-family (2-4 units) other investment in Houston.

Purchase price: $45,000
Cash invested: $340,000

Small Multi-family! Three unit greenfield project. Purchased land @$45,000, and building tri-plex from the ground up.

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

Positive cash flow is my current business model. New construction offers the benefit or higher rents and the benefit of much lower maintenance and upkeep.

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

Land acquisition was the key component. Purchasing the appropriate property at the right price is the foundation of any successful new construction project. 2nd important component is finding a wholesale builder and reaching a fair price. In this case i was the solo act, investor, developer, builder and property manager.

How did you finance this deal?

Financed thru a small community bank

What was the outcome?

In progress....