Buy and Hold Strategy in Mesa, AZ

[Michael Walker]

Investment Info:

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

Purchase price: $475,000
Cash invested: $125,000

Four plex - C neighborhood
Large growing population.
New light rail
Becoming a B neighborhood

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

Census fastest growing cities

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

MLS
Negotiated with repairs, poor management etc

How did you finance this deal?

Conventional

How did you add value to the deal?

Comparable rents
Water and Sewer werent' being split by tenants

What was the outcome?

Got water and sewer transferred over to tenants

Lessons learned? Challenges?

Ask for Section 8 tenants up front

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

Yes, working with my real estate agent and his property management team makes my life much easier.