Undervalued 3 unit rehab

[Alex Bacon]

Investment Info:

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

Purchase price: $190,000
Cash invested: $95,000

a buy and hold 3 Unit, full rehab, student rental property. After a 6 month rehab this 3 unit property has gone from 66% vacancy to now fully leased with an increase of rents that almost triples the gross rents based off previous owners rates.

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

Cash flow, consistent renters, location

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

My property manager is my realtor and she told me I had to get it

How did you finance this deal?

25% down conventional loan

How did you add value to the deal?

Complete rehab