All Forum Posts by: Thomas Markowski

Hello BP community. My name is TJ and myself and my wife are investors in New Jersey. We own a total of 13 units spread out over 6 properties. Some single family, 2 & 3 families. We have been investing since 2019 right before COVID and have been buying about 1 property a year. We are looking for multi families that are in need of rehab so we can scoop up another property at a discount. It seems like the entire investing community is looking for the same which makes it very hard to find good deals (especially after COVID). We are trying to scale our portfolio but seems we’re stuck a bit. Our downpayment and rehab money comes from money we’ve saved ourselves from our jobs. If anybody has any properties that fit my description please send them my way. Also I would love any advice/help from any investors out there. Thank you! 

Investment Info:

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

Purchase price: $390,000
Cash invested: $140,000

Buy and hold on a 3 family house. Paid 390k cash. Desperate need of repair. Rehabbed entire property inside and out for 140k. Cash-out-refi. Pulled out 460k. Cash flowing $2,535 a month after all expenses.

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

It’s very rare to find a 3 family unit in Woodbridge NJ for $390,000 and I seen a ton of value in the property.

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

Found the deal on Zillow. Negotiated with sellers agent back and forth for a week and seller accepted my offer

How did you finance this deal?

Cash buy. Added value with rehab and did a cash out refi

How did you add value to the deal?

Rehabbing entire property, placing new tenants at market rent.

What was the outcome?

Still holding the property. Cash flowing $2,500+ a month.