First project finally paving the way to the second!

[Joe Vassel]

Investment Info:

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

Purchase price: $250,000
Cash invested: $85,000

Had a blast and learned a lot taking over from a previous investor. Took great pride and enjoyment fixing the poor repairs and craftsmanship of previous owner! Also a great time building a relationship with my business partner/investor, trust is eveything!

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

A lifetime of helping others manage properties and appreciation for historic renovation. My hands on labor finally being able to produce some ROI for the future!

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

Our realtor (and friend) brought it to us as a hidden gem.

How did you finance this deal?

Private loan with partner

How did you add value to the deal?

As the hands on half of the partnership, I was able to save cost by doing much in-house as well as expedite the process by hiring trusted contractors.

What was the outcome?

A great relationship solidified, and beautiful place our tenants call home.

Lessons learned? Challenges?

Lesson=trust your instincts!