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Updated about 3 years ago on .
First Multi Family Investment
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $720,000
Cash invested: $50,176
3 family unit, 6 bed, 3 bath in Salem
What made you interested in investing in this type of deal?
It is our entry into real estate investing and it made sense for us financially.
How did you find this deal and how did you negotiate it?
Zillow and there wasn't much room for negotiation because the price point was the lowest in hot market.
How did you finance this deal?
Mortgage
How did you add value to the deal?
Not yet, working on it.
Lessons learned? Challenges?
I need to estimate better repair costs.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Agent yes, lender I'm not too sure.