Conway NH 5 unit Mixed use building

[Ryan Corcoran]

Investment Info:

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

Purchase price: $385,000
Cash invested: $85,000

5 unit mixed use property in great location downtown Conway NH. Property has a lot of upside in terms of appreciation and with it needing mostly cosmetic work, we are able to BRRRR and pull out a decent amount of our initial investment (which came from private money, HELOC and personal). We used hard money for the loan with interest only payments for six months, which we will then refi into a conventional commercial loan. 50/50 with a partner each of us invested 42500 for a total of 85k. Looking like at this point we will be pulling out roughly 55-60k of that initial investment leaving us all in at about 12-15k for each of us. After rehab, the building will bring in around $3500 per month in pure cash flow split 50/50.