6 Unit Townhouse in Monticello, AR. Fix and flip
Investment Info:
Large multi-family (5+ units) fix & flip investment.
Purchase price: $75,000
Sale price: $315,000
6 unit townhouse. Came across the deal via my father in law at the time. It was in horrible condition. Completely remodeled it and held onto for around a year. $650 per unit. I would've liked to hold onto it for the cash flow and to use the equity to purchase other properties but my wife and I sold it and got divorced shortly after.
What made you interested in investing in this type of deal?
It was a good purchase price, multi family and value to be added due to the condition of the property.
How did you find this deal and how did you negotiate it?
Father in law at the time.
How did you finance this deal?
Local bank, in house loan.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm a real estate agent.