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.

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

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).

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

MLS

How did you finance this deal?

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 with roughly 12-15k each into the deal.

How did you add value to the deal?

Mostly cosmetic work, will increase rents

What was the outcome?

Will cash flow roughly 3500-4000 per month split 50/50