Jonah Stevens Rental Deal

 

Jonah Stevens Rental Deal

Viking Management Properties, LLC in Columbus, OH
Jonah Stevens with Sayam Ibrahim & Xavier Ibrahim

This is a nine (9)-unit multi-family building that we bought for $305,000 from a wholesaler that we've done multiple deals with. Half of the units were vacant and the other half were receiving less than $500 in rent each. All units needed cosmetic renovations. We put about $100,000 worth of renovation both on the interior and the exterior, transforming it from a run-down building to a modern marvel! The property is now fully occupied with all units rented for $700. The property appraised for $650,000 and we were able to do a cash-out refinance with a long-term loan to stabilize the building, and now it has become a cash flowing asset for us.

Rental Details

Property City: Columbus
Purchase Price: $305,000

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Case Study

How did the FortuneBuilders team and resources help you to accomplish this deal?

Fortune Builders has taught me many of the techniques used for us to be able to take this property from zero to hero!