Closing on my second 4-plex today!

[Account Closed]

Closing on my second 4-plex in Cedar Rapids, IA today! Listed at 144, I picked it up at 135k, with a total loan balance of 127k. The seller is also giving me 1.5k at closing for cosmetic repairs, so I'm only putting 3k down. It has two 2-bedroom units and two 1-bedroom units. It currently has one vacancy. I have some landscaping work to do on it and simultaneously updating the vacant unit (new carpet & linoleum, new paint). The units rent for between 550 and 600 each. 

I'm also closing on a flip house today. It's a foreclosure that we picked up for 90k. With tax credits and earnest money, my loan is for 87k. Also got a separate loan for rehab for 12k! 

Gotta love other people's money :)

Happy investing to all!

[Nicholas Miller]

Congradulations @Account Closed !  OPM is a wonderful thing.