Our second Quad!

you guys are amazing!! absolutely amazing!!
your energy and attitude are so contagious! keep it up!

How much rehab do you estimate?

with lots of admiration,

Hey thanks for your kind words! Rehabs will be around $7K for all four units and we should start this week.

I used to be nervous about trying to deal with anything larger than a SFH. Sounds like these are usually great investments. Maybe I should consider them in the near future. Do I have to always have them rehabbed though?

Not always. This one needs rehab and I want to attract better quality tenants. It really depends on what you want to do with it. We enjoy multi family properties but we also do a lot of SFH.

Congrats on another great deal! There is no stopping you guys!

Dean is going to have to have an entirely new group of people on his stage this year!

Karen

There are so many great people in this site who should share in stage. But, just having to be at the Edge event and meet a lot of people that's already a blessing. Everyone can learn from each other.

That's a nice ROI anybody would be happy to get.

Keep up the great work you two!

Don't need a new group, just a bigger stage!

Great job guys. I knew when we sat next to you two at the Edge last year that you two would do great things in REI. I know you both are for real also. You never know if people are for real or not on this type of web site. After a while you can tell who is for real or not and you guys are for real. Keep up the good work.

Steve.

thanks for the good vibes!

Thanks for your message. It was also great sharing with you guys. I remember you said you guys were moving to FL. How's that going? Are we seeing you both at the edge?

you guys are killing it!

congrats. would love to see it during the process.

Thank you both for your message.

Linda, it's nice you live nearby. We are doing some hauling off first, then start with the interior project. It will be a 3-4 weeks project.

We are on hold for now with Florida. Our daughter has two years of college to go then we will look into FL again.

We may not go to the Edge this year we have a lot going on this month.

We still hope to go to the Edge we had a good time last year.

Wishing you both more success.

Steve and Veronica.

Good luck to you both as well!

You guys are killing it over there, thats super inspiration for me/us.
Im looking to do a deal like that in my city... Lets get deal number one out the way first...lol...

Thank you both for your messages.

We will miss you! Call us if we can help with anything. Maybe we can catch up in 2013?!

Happy Easter and God bless.

Jeri

P.S. Thank you for the nice comment. Tomas and I only posts some of our deals; we only post them after they are closed.

Awesome deal!
Could you please clarify? "We paid $20K per quad."
So, you paid $20K for all 4 units, correct? At 50%, the quad is worth $40K.

How much do you expect to put in for repairs?

Owning the block-- a great goal, and you're nearly there.

Thank you for keeping us posted.

Do you guys do the renovations yourself?

Yes, we paid $20K for the entire building, 4 units. Approx. 2300SQFT total plus parking area. It was a foreclosure. There were two Quadplexes sitting next to each other. We purchased the first one for $20K too (early in the year) from the same bank and was able to get the second one for the same price next to the first one. The Bank appraised them each for $42K. We are putting about $7K on the property. There is a third Quad in another block next to this block that we are putting an eye on it. We'll see if we get this one too. We are using OPMs to fund these deals. Thanks for your message.

We are actually using our contractor to do the rehabs.