First Four plex Investment

[Michael Bertrand]

Investment Info:

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

Purchase price: $335,000
Cash invested: $92,000

Four-plex, nice neighborhood

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

I like small multi family. Minimizes vacancy losses since you have the other units still occupied. You experience more vacancies, but you’re just more insulated since you have 3 other doors in the same property. We’ll see!

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

Through Rent To Retirement. Easy, smooth, 1 stop shop. Property was totally rehabbed and seller in Cleveland was absolutely fantastic to work with.

How did you finance this deal?

Conventional 30 year mortgage, 25% down, 6% interest rate.

How did you add value to the deal?

None. Just buy and watch the bank account go up. Property management is great as well.

What was the outcome?

So far so good.

Lessons learned? Challenges?

Trust the numbers you’re given but verify them. Go to the county tax assessors website and check the actual property taxes. Get with a great insurance provider and and know what you’ll actually be paying. Always be in contact with your lender so you understand how rates are moving.

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

-Rent to Retirement for a super smooth transaction and high quality inventory.
-Bill Brewer with Shelter Insurance. Based in Memphis, but does insurance in quite a few states. He’s amazing.
-SecurityNational Mortgage Co (Aaron Chapman’s group). They’re the best there is.

[Zach Lemaster]

@Michael Bertrand,

Congratulations Sir! I'm glad this transaction went smoothly for you. Sometime the first MF can be a bit more complicated than with a SFR transaction. Just more doors and tenants to deal with. I appreciate you sharing your positive experience about working with Rent To Retirement on BP. We are always here to support with any issues that may come up, but more importantly to assist you in scaling your portfolio over time to build a sustainable business model! Feel free to reach out at any point in time with anything you need.

To your success,

The Rent To Retirement Team!