Great Deal Alert - Triplex
OK, this one is for you more adventurous types, but if you are up to it, it’s a real winner! Specifics are as follows:
a) Fixer – one will spend about $125K to get it in shape
b) Will be delivered fully vacant so no pesky tenant relocation issues to deal with
c) Even though they are only one-bedroom units, all fixed up they will fetch at least $2K/mo. Here’s why: (1) they are large and well laid out, including formal dining room, good-sized kitchen and living room, (2) three-car garage, and (3) very nice, quaint and quiet little street with easy freeway access. When it’s all over and you have gotten traditional financing, you will be at close to $2K/mo cash flow or about 12.5% cash-on-cash return.
It has to be all cash or hard money. If you want it or want help with it, let me know and I will help you out.