Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 3 years ago on .

User Stats

2
Posts
0
Votes
Ranae Anderson
  • New to Real Estate
0
Votes |
2
Posts

Second Property purchased 2 months later

Ranae Anderson
  • New to Real Estate
Posted

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.