3rd Buy and Hold Acquired

[Joshua Poitras]

Investment Info:

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

Purchase price: $446,000
Cash invested: $30,000

Bought an Off-Market large 2 bedroom with many bedrooms and with an old illegal unit on the third floor. Renting out the 2 - 3 Bedrooms and Staying in the old unit when in town.

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

My goal was to add to my monthly cash flow by acquiring another multi-family.

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

A friend that was retiring was selling off his portfolio.

How did you finance this deal?

5% Down ARM Owner Occupied loan @ 3.25%

How did you add value to the deal?

No need, just cleaned up units. Already updated.

What was the outcome?

Acquired and Cash Flowing

Lessons learned? Challenges?

Tie things up when you have the opportunity, Market prices can increase fast.

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

Triangle Credit Union