9-Units Multi-family Invest in Liberty, Texas

[Wale Lawal]

Investment Info:

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

Purchase price: $61,500
Cash invested: $12,600

Contributors:
Alex Ramirez

My partner found this deal through marketing and we negotiated it for 2-week.
This is currently a 4-units with a large office space that will be converted to additional 5-units, making a total of 9-unit apartment.
Reharb cost is estimated at $210,000 with ARV of $480,000.

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

The need for housing in the city and the equity in the deal.

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

Off-market marketing effort via direct mail.

How did you finance this deal?

Hard Money Loan

How did you add value to the deal?

Adding 5 additional units to make it a 9-unit apartment.

What was the outcome?

The project in progress

Lessons learned? Challenges?

The project still in progress