First Acquisition Complete!!

[Matt Floyd]

Success!! 

My journey to financial freedom has officially started with my first property acquisition on 8/24/18, a date I will always remember.  Take a look at this beauty...

Here are the details...

4-plex located in Wisconsin

Purchase price: $55,000 (75% LTV @ 4.625% interest 30 yr amortization)

Rehab Cost: $25,000

Initial Rent Roll: $440/month

Estimated post-reno rent: $1,700/month

I plan to refinance the property once we have it fully rented to pull out the money we put in for rehab. There were an endless number of steps I had to complete to bring this deal to fruition including building a local team from across the country, putting in many offers, passing on several bad properties, and getting my financing lined up so I could pounce on this opportunity right when it hit the MLS. It was a lot of work but it was the most rewarding work I've ever done and I can't wait to do the next one.

I will post more pictures once we finish the renovations, let me know if you have any questions!

Best,

Matt