Brick exterior and steel roofs are the way to go!!!

[Jonathan Plant]

Investment Info:

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

Purchase price: $275,000
Cash invested: $48,000

4 Plex built in 2010. Brick and vinyl siding exterior with a steel roof. Love it! Great tenants and cashflows medium.

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

The build criteria, location, and doubled my previous purchase.

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

Realtor.com. Not much negotiation on this one. Bought it for a few thousand less than asking price.

How did you finance this deal?

Local bank with a Commercial 15% down loan> love these! Non-Recourse!!!

How did you add value to the deal?

Made some minor repairs and made all rents equal to bedroom quantity.

What was the outcome?

Better Tenants! Happy Tenants! They see continual care on the property from my manager!

Lessons learned? Challenges?

Relying on the realtor and home inspector to be thorough. Realtor was not honest about the septic company he hired to test the system. Both systems did not function properly and cost me $ in about 2 months after purchase. Home Inspector did not find that one of the units operated in emergency heat mode instead of normal operation.

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

I would not recommend them.