All Forum Posts by: Neil Ginty

Investment Info:

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

Purchase price: $382,500
Cash invested: $250,000

Duplex with a detached 800 sq.ft plumbed and powered workshop which we converted to an additional unit

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

800 sq.ft detached workshop that had a small kitchen and bath and was easy to convert to third unit

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

MLS. Our agent deftly kept in touch with selling agent and we got it by $500 above next best offer!!

How did you finance this deal?

Conventional and Heloc for construction

How did you add value to the deal?

Built a third unit

What was the outcome?

Not a full BRRRR but excellent cash flow and its a strongly appreciating market

Lessons learned? Challenges?

How to work with angry contractor, importance of keeping momentum
Jump on a deal when you see one (this one was no brainer)

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

Yes, Ruben Haynes

Investment Info:

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

Purchase price: $420,000
Cash invested: $105,000

Fourplex with slightly low rents but a solid income producing deal in appreciating market. Wasn't much to fix, idea was to just generate cashflow

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

Cashflow in appreciation market

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

MLS and negotiated via our agent after inspections

How did you finance this deal?

Conventional

How did you add value to the deal?

Raised rents

What was the outcome?

Ongoing cashflow

Lessons learned? Challenges?

Good property managers are hard to find
Always check the crawl space

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

Yes, Tim Spate

Investment Info:

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

Purchase price: $420,000
Cash invested: $105,000

Fourplex

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

Cashflow in appreciation market

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

MLS and negotiated via our agent after inspections

How did you finance this deal?

Conventional

How did you add value to the deal?

Raised rents

What was the outcome?

Ongoing cashflow

Lessons learned? Challenges?

Good property managers are hard to find
Always check the crawl space

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

Yes, Tim Spate

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $288,000
Cash invested: $310,000
Sale price: $675,000

Single family to triplex conversion
Not far off a full BRRRR on our first go!

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

Existing layout made existing single family relatively easy to convert to a triplex

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

MLS... it was a house that no one wanted that we saw value in. It was on the market a long time and had tonnes of issues, all of which helped us

How did you finance this deal?

Conventional

How did you add value to the deal?

Converted to a triplex

What was the outcome?

Almost a full BRRRR
17.7% annual cash on cash return
And excellent appreciation

Lessons learned? Challenges?

Everything. This was our first project so learned the whole lot. Negotiations. Dealing with construction issues. Appraisals. Setting the right rent. What tenants actually want (parking!!)

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

Yes
Ruben Haynes