Investment Info:
Small multi-family (2-4 units) buy & hold investment in Bay City.
Purchase price: $75,000
Cash invested: $4,500
3 Unit property that cashflows nicely and has been a great addtion to the Bay City, MI portfolio
What made you interested in investing in this type of deal?
Additions to portfolio, cashflow and price of property
How did you find this deal and how did you negotiate it?
My partner and I found our agent through BP and have been working with him steadily over the past year to build our portfolio up to 19 units in Bay City, MI
How did you finance this deal?
Local bank
How did you add value to the deal?
New property management and small safety improvements to the building
What was the outcome?
Closed and added quality property to our portfolio
Lessons learned? Challenges?
Existing tenants are usually a pain. Find a quality PM to work with on long-distance investing and manage your financials accurately.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Matt Jarecki is our RE agent in Bay City, MI. 1.) He's the man, 2.) No B.S. & 3.) Makes it happen....Boom. Love you MJ
