8-Plex Purchased to add to my portfolio

[Andrew Adam]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $505,000
Cash invested: $130,000

This 8-Plex is only 15 min from my house. It is in nice condition and there is some room to push rents. It is similar to most of my portfolio so it is a nice plug and play. I put the proceeds from my personal residence sale into it. With the condition and location I plan to hold this for a long time. I will be in my mid 50s when it is paid off.

What made you interested in investing in this type of deal?

Similar to rest of portfolio.

How did you finance this deal?

Commercial, 20 yr am, interest rate locked for 5 years.