First rental and lessons learned

[Carolyn Hamilton-Bernicky]

Investment Info:

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

Purchase price: $302
Cash invested: $7,500

Multi family unit

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

The fact that I didn’t have to house hack. Very surprised I was able to go it alone. But looking forward to creatively doing it going forward versus conventional.

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

Found it utilizing a realtor the traditional way. I could have been more strategic had I known what I learned in the forum.

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Not sure I can answer this one.

What was the outcome?

Pride in Ownership

Lessons learned? Challenges?

Ask questions, be careful of second liens like government loan or assistance down payment. They appear as second loans and need to be illuminated if you need to HELOC or cash out

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

Yes