First investment property

[Nathan Holt]

Investment Info:

Small multi-family (2-4 units) other investment in Newark.

Purchase price: $130,000
Cash invested: $3,991

This is a buy and hold, fix and flip and house hack all in one. It has quite a lot of work to be done but when it is finished we plan to have it in shape to pull in 1,100$ a month in rent from each unit.

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

I had been looking to get a househack as a method to get into multi family

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

I found this deal through my realtor Amber Burns. We bought it contingent on one of the tenants moving out, a roof leak being fixed, and a 8,000 cashable check to replace the a/c units after the sale.

How did you finance this deal?

$130,000 FHA loan through GoMortgage with Julie Mcfarland as our loan officer.

How did you add value to the deal?

We are currently renovating the unit. We raised the rent from $690 a month to $800 and will raise again when renovations are completed.

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

Amber Burns (realtor) and Julie Mcfarland (loan officer) were really great to work with and helped the first time home buying and first investment buying process rung extremely smoothly. I highly recommend them.