Second 6 Unit Property Purchase

[Matthew Gardner]

Investment Info:

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

Purchase price: $171,000
Cash invested: $171,000

6 Unit property fully stabilized. Purchased from wholesaler. Used funds from 1031 exchange for the required cash purchase. Refinancing property to pull out equity and look for more deals.

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

The amount of cashflow, and the refinance aspect to be able to pull money out.

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

Found through wholesaler, price was firm as there was a lot of other interest.

How did you finance this deal?

1031 Exchange.

How did you add value to the deal?

Purchased right.

What was the outcome?

Currently holding property for cashflow.

Lessons learned? Challenges?

First deal with wholesaler.

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

Bridge Title and Escrow