Whittier investment - buy and hold

[Guillermo Amaya]

Investment Info:

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

Purchase price: $1,100,000
Cash invested: $300,000

Purchased this investment property in Whittier, CA. Positive cash flow. We moved into it to make repairs,changes, updates, moved out after and rented all units.

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

Size of the lot, allowed for a total of three doors

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

Found the deal but looking online. No one told me about it. So many folks kept asking if it was a good deal. Ran the numbers and they did!

How did you finance this deal?

Standard loan + my own.

What was the outcome?

Was able to rent all units and come out profitable.

Lessons learned? Challenges?

Parking!!! Parking. That was my main issue. Property is on a private street so was able to make it work.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Worked with RE agent. He understood what I wanted and helped make the deal happen in the timeframe and conditions I needed.