York, PA 1 of 3 Package Deal

[Zachary Coombs]

Investment Info:

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

Purchase price: $106,180
Cash invested: $32,000

Triplex was part of a 3 building (7 unit) deal with one seller. He had one duplex listed on MLS. I made an offer sight unseen based off rental income (2% rule). He replied saying he'd consider a package deal if I bought all 3 of his buildings. 240k for 7 units with gross monthly income of $4,580.

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

Low cost to high income.

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

MLS through real estate agent.

How did you finance this deal?

Conventional Financing through Freedom Mortgage

How did you add value to the deal?

N/A

What was the outcome?

Holding

Lessons learned? Challenges?

Would have gotten property management immediately to take over after closing instead of waiting a month and a half.

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

Nancy Allison Coldwell Banker in Chambersburg, PA
Charlie Miller with Freedom Mortgage
Keystone Real Estate Services Chambersburg, PA
Southern Management Rentals Glen Rock, PA