New Rental Property (#34) Purchased for $1,350,000! 8-Plex with 16 Garages and 12 Storage Units

Описание: This is a super exciting purchase as it is the first true multifamily rental property I have ever bought. I have bought commercial properties, single family properties, mixed use, but never a true multifamily.

This property not only has 8 apartments that each have 2 bedrooms and 2 bathrooms but it has 16 garages! 8, two car garages and 8, one car garages, as well as 12 storage units. 7 of the units are occupied so I can show you what one of them looks like in this video.

I also go over the current rents and how we plan to add value over time as well. We have one vacant unit and learned another is going to be vacant soon as well. As they become vacant we can quickly freshen them up and rent them for more than they are rented for now, which increases the income and the value as well.

I think this is a property I will keep for a while. I bought it with a partner which I rarely do except on the big ones like this one and the strip mall where my office is. You can see the property below:

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We do have some multifamily flips we are working on but I do not plan to keep those. I am working on stabilizing those, increasing rents, and selling them. Here is one of those we are working on now.

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Mark Ferguson’s purpose is to help as many people as he can become financially free through real estate.
Mark has been a real estate investor and real estate agent since 2001, after graduating from the University of Colorado. Mark has flipped over 200 houses and routinely flips 15 to 25 houses a year. Mark owns 190,000 square feet of rentals and is the managing broker and owner of Blue Steel Real Estate. Mark has also written 9 books that you can find on Amazon https://amzn.to/2VGI6a9
Mark started InvestFourMore in March of 2013 to discuss his rental property investing techniques. Mark expanded InvestFourMore to talk about his flipping business and real estate agent business. InvestFourMore now has 300,000 views a month and is one of the top real estate blogs.
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