1st deal- 4 plex in a growing area

[Dominique Lepage]

Investment Info:

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

Purchase price: $680,000
Cash invested: $136,000

NOTE: Couldn't get the right city & province (should read, Sherbrooke, Quebec, Canada)

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

Newer construction (2yrs at the time of purchase, still under warranty by contractor) which reduced the maintenance risk.

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

MLS

How did you finance this deal?

House equity

How did you add value to the deal?

small cosmetic improvements outside.
Outstanding tenants services on maintenance calls.

What was the outcome?

Great tenants relationship.

Lessons learned? Challenges?

A lot of our initial fear getting in Real Estate were not justified. Should have started earlier!!!

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

Real Estate agent: Patricia Boudreau (Royal Lepage).
Great support from day 1 until the closing. Very dynamic and professional. A must have on your professional team!!