This was our first deal!

[Mark Pixley]

Investment Info:

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

Purchase price: $115,000
Sale price: $285,000

This was a 3 plex with owner carrying down payment for 2 years with a balloon. Two units residential & one office. Was in need of repairs and we fixed it rented and sold a few years later.

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

No money down!

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

MLS

How did you finance this deal?

I knew who the owner was & property was vacant.

How did you add value to the deal?

Rehabbed and rented for 6 years with appreciation.

What was the outcome?

We made over $100,000.

Lessons learned? Challenges?

Termites are in Wyoming too!

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

Yes, it was bought by us off of MLS & sold on MLS.