Second Property purchased 2 months later

[Ranae Anderson]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $55,000
Cash invested: $55,000

REO 3.5 acres triplex

How did you find this deal and how did you negotiate it?

Found on the MLS.

How did you finance this deal?

Used my IRA from my previous employer

How did you add value to the deal?

Forced value through renovations. (Still Ongoing)

What was the outcome?

This is a 3 unit (multi-family). I purchased on auction for $55K . The first Unit is targeted for launch in May. The second Unit is targeted for 2 months later and the final unit in late summer.

Lessons learned? Challenges?

Tons of lessons learned. The first lesson is to trust your gut. Second) Surround yourself with people who are accomplishing or at least interested in real estate also. Finally, never stop learning. I listen to podcasts every day, to and from work. I read books. I recognize everyone has something they can contribute. If I'm sitting in the dentist's chair I'll ask her about a recommendation for a contractor.