Completely renovating the 4- plex

[Katie Renfro]

Investment Info:

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

Purchase price: $177,000
Cash invested: $177,000

Total gut on a 4plux in old louisville. I am also the lender on the contruction loan. This is going to be four highend two bedroom units when finished.

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

I love this area in old louisville. I own two other apartments on this street. The plain was to dress it up and rent it. Turns out the previous owner had it plumbed and wired all wrong and we decided to gut it and start over.

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

wholesaler emailed me.

How did you finance this deal?

I was the loan broker on this deal as well.

How did you add value to the deal?

Rent I can recive. I like a remodel in these older buildings. when completed there is alot less maintenance.

What was the outcome?

Not sure yet we are4 still remodeling.

Lessons learned? Challenges?

We (my husband and I) have done this enough times to plan for problems. The bad news was did not plan on doing this much work to the building. The good news is it is still going to be a great profitable rental with Plenty of equity after we refi and get all of our cash back. SO its a challenge, but when the numbers work its still a win. This is why I love real estate.

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

I am an agent and a lender. I am an investors best friend. Please call anytime if you want to know how to gain cashflow and equally. (502)345-3667