My First Investment!

[Grant Griffin]

Investment Info:

Small multi-family (2-4 units) commercial investment investment.

Purchase price: $175,000
Cash invested: $25,000

This was my first investment property as it was used as my "first time home buyer" option through local financing. It allowed me to only put 5% down if I moved into the property. I moved in while the other 3 units were rented and still currently am doing so. This has been life changing and has allowed me to live for free while working as a Realtor in the area. A friend told me about this forum and I thought it would be cool to share my story. Would love to connect w/ others!

Grant Griffin

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

Other mentors in the business and being in the business of selling real estate.

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

I found it on market and negotiated with a experienced Realtor

How did you finance this deal?

Conventional Financing - First Time Home Buyer (3.5-5%) down

How did you add value to the deal?

Reconstructed parking lot, updated units, landscaping, roof, added patio, raised rents.

What was the outcome?

After buying my first I want to buy more!(:

Lessons learned? Challenges?

Keeping good tenants is the name of the game. When you get them, KEEP THEM

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

I worked with Jason Vestweber at the time and now work for him. I recommend anybody on The Vestweber Team at Skogman Realty.