First Steps Into Investing

[Justin Houghten]

Investment Info:

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

Purchase price: $424,000
Cash invested: $32,000

Large 1880 triplex with three 2bd/1bth. Each unit is approximately 1300sf. Current house hack.

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

I was looking for a multi family home that needed a little tlc that I could build equity into while also having the ability to house hack.

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

This deal was found using the MLS with the help of my Real Estate Agent found here on BiggerPockets.

How did you add value to the deal?

Value add has been a slow start. Beginning with fully upgrading the second floor unit, including new floors, paint, counters, and electrical components. Further updates to the landscaping as well as an additional unit on the property are in the works.