21 Year Old Investor

[James Aravena]

Investment Info:

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

Purchase price: $300,000
Cash invested: $300,000

My father purchased this 3 family house in queens NY more than 20 years ago. I recently was given the responsibility to manage this and learning how landlord tenant relationship works, how to work repairs, and how to think about future investment strategies.

How did you add value to the deal?

Upgrading apartments after evictions.

Lessons learned? Challenges?

LT court is incredibly difficult. Uncommunicative tenants are difficult. The balance between less rent and no problems has been a difficult balance to find.

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

Yes. My godfather Juan Pina has been my professional agent for all my life as well as my father before me.