My second investment

[Dayna K hicks]

Investment Info:

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

Purchase price: $253,000
Cash invested: $45,000

triplex with bedroom and 1 bath combination

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

that it was a triplex and that it already had long term tenants.

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

I also found this investment with a real estate agent

How did you finance this deal?

I did conventional with 20% down

How did you add value to the deal?

I came the next year and rehabbed a room in each apartment. i did kitchens one year and did hallways another. I am doing living rooms this year.

What was the outcome?

My tenants are happy and continue to pay on time.

Lessons learned? Challenges?

to keep close eye on properties and make sure that all is well every three months

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

Yes, I worked with a real estate agent for purchasing and my contractor for rehabbing.