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

[Ryan Sullivan]

Investment Info:

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

Purchase price: $280,000
Cash invested: $78,744

Small multi-family (2-4 units) buy & hold investment in Columbus. Possible BRRR.

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

Leases were in place for both units for the next 11 months at under market rent. Because of this, the property won't be cash flowing until year 2, which we think deterred a lot of potential investors. We decided to make an attractive offer to try and get our offer accepted.

Ultimately, we will be renovating both units when the leases are up so we can command top of market rents. We will also convert one unit from a 2bd to a 3bd, and hopefully BRRR the property.

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

Found on the MLS, offered slightly over asking to make an attractive offer in a hot market.

How did you finance this deal?

Traditional financing, 25% down.