4 unit residential investment

[William Deterling]

Investment Info:

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

Purchase price: $382,500
Cash invested: $125,000

4 unit 2 bdrm each

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

Great bldg shortage of rental units, very low rents

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

Online, offer over asking price, bidding against one other.

How did you finance this deal?

Conventional residential mortgage

What was the outcome?

Purchased

Lessons learned? Challenges?

Inherited tenants can be a joy, 3 of 4 were fine.

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

Yes, Donna Ward, Exit Realty