2nd Deal - First buy & hold property.

[Ronea Saunders]

Investment Info:

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

Purchase price: $285,000
Cash invested: $20,000

Two family home, this home also needed basic cosmetic upgrades. Backsplash/tile in the bathrooms, paint, new appliances etc. This was my second investment property, but first buy & hold property.

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

Always wanted a multi and jumped as soon as one fit my personal criteria.

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

I represented myself on this deal, and only used the appraisal gap to negotiate since I knew it would cashflow either way.

How did you finance this deal?

FHA Owner Occupied financing with 3.5% down.

How did you add value to the deal?

Cosmetic upgrades & new driveway install

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

I represented myself!