First Multi-Family Purchase

[Daniel Priore]

Investment Info:

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

Purchase price: $120,000
Cash invested: $35,000

I purchased my first multi-family property in October of 2019. It took me a while to finally pull the trigger and make the investment, but I am fortunate that I did.

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

I have always been interested in real estate and I always wanted to purchase my own multi-family property.

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

I searched zillow daily and when I saw this property pop up, it was right next to the firehouse that I work at, and it was in a pretty decent area. I immediately contacted my agent to get me into the property to view it. I gave her an amount to offer and then another amount that I wanted to be my top dollar offered. I offered 118k and was willing to go to 122k, and they accepted 120k.

How did you finance this deal?

Conventional Loan