- Profit Strategy: Buy, fix up and hold.
- Number of Units: 16
- Amount Earned: equity & 30% commission
- Prior Experience: Was a loan officer in mortgage industry for several years, then got real estate license, focusing on “short sells”. He then began acquiring SFHs needing light renovation, which evolved into properties needing heavy renovation, which then evolved again into new construction.
With a background in the mortgage industry and some SFH renovations/construction, Rob completed this multifamily deal with Lance's training being the only multifamily real estate training under his belt. At an ask price of $480,000, he was able to get this deal under contract for $360,000 using funding from local banks, earning 30% commission. His focus has now shifted to multifamily, looking to set himself up for retirement in the next 5-7 years. Looking back on this experience, he shares, "I really wish I had turned to multifamily years ago."