First Investment Property (Looong Overdue...)

[Chuka Eko]

Investment Info:

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

Purchase price: $330,000
Cash invested: $17,000

This is what is listed on HAR haha:

"TRIPLEX located in prime area of Deer Park just a block off Center Street! Main house is in the back, plus a duplex facing Elm. Live in one and rent the others, or rent all three! Each unit has 2 bedrooms, 1 bath, living area, kitchen and dining. Shared utility room on-site with space for 2 washers & dryers, or 3 W & Ds if stackables. Newer roof and hot water heater; A/C's are appx 9 yrs old; plus Hardiplank siding and gutters! "

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

I was looking for cash flow and a house-hacking investment.

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

Through my daily search on HAR and the listings the realtor I was working with was sending me.

How did you finance this deal?

FHA loan with 5.1% interest rate, but the lender bought it down to 4.75%

Lessons learned? Challenges?

Stop hesitating and do it. You'll learn more and faster from your mistakes and than not taking action.

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

Jesus Roman! It was about a year and half before I finally decided to pull the trigger.