4 Unit Multi Family in Saranac Lake

[Steve MacNerland]

Investment Info:

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

Purchase price: $150,000
Cash invested: $4,500

4 Unit Multi Family

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

Cash Flow, Owner Occupied, Location

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

Off market, negotiated directly with the investstor

How did you finance this deal?

FHA with 203k rehab

How did you add value to the deal?

New roof, heating systems, Gut and Reno 2 units, Flooring and Siding

What was the outcome?

Great tenants and good cash flow

Lessons learned? Challenges?

Have replacement value insurance.

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

No