First Multi-Family purchased!

[Richard Lovering]

Well after about 8 months of books, podcasts and seemingly endless education I now own a 5 unit MF in Manchester NH! I went in with 2 other partners, one of which already co-owns 15 or so units and is both a friend and general contractor. My other partner is a long time friend and brother in-law, who like me, was interested in generating passive income. Many properties were evaluated, 3 different properties were under contract, but we feel good about the one we now own. The intent is to BRRRR the property, expand it to a 6 unit, then hold! There's definitely a few things we could have done a better job with during the initial process but it's all about getting your first deal done right?!

Thank you to all the folks on BP who continually provide feedback, education and encouragement! This is definitely an incredible resource for anyone in the REI space!

Onto the next one!!!!

Rick

[Fred Shatzoff]

@Richard Lovering  Congratulations.  Hope it works out well with good tenants.