Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hemlane-a9392011949df124ea8ee63be2fb270c9423d6cd446ec67af23c96616e618606.png)
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
![Adam Morgan's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/276578/1621440925-avatar-adamm8.jpg?twic=v1/output=image/cover=128x128&v=2)
First REAL investment deal
Thanks everyone for all the help and info on this site. Today I closed on my first "intentional" investment deal. I am already an accidental landlord (and out of state), and an accidental raw land investor (from a move after my time in the Navy that didn't go as planned). Ran across a good deal on a 4plex with seller financing while looking for a flip project. Building has 4 one bedroom apartments that all need the carpets ripped out, new kitchens and complete paint jobs. Seller wanted 15k down but we agreed on 5k down and I would put in 3k rehab on each unit at the first vacancy. Convinced him I would rather put the down payment directly into the property and mentioned if he did happen to get it back, it would be a completely renovated building. 90k total plus 12k rehab over 4 units and a year or two timeframe, rents out for 400 per unit now. I think with a rehab I can bring this to 420-450 per unit. (2 have car ports). Not exactly 2% but close.
Thanks again for all the motivation!!!!
![Rob Gleason's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/253058/1621436414-avatar-robg1.jpg?twic=v1/output=image/cover=128x128&v=2)
@Adam Morgan this looks like a great deal for a nice little quad! Thanks for sharing the pics. Congrads !
![Ericka Parrott's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/36973/1621370056-avatar-ericka91.jpg?twic=v1/output=image/cover=128x128&v=2)
Congratulations, you will do well with the property! Athens is an excellent rental market.
![PropStream logo](https://bpimg.biggerpockets.com/no_overlay/uploads/forum_ads/logo/917/1722266297-forum-ad-logo.jpg?twic=v1/output=image/contain=96x96)
![Johnny Kula's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/300050/1621442725-avatar-johnnykula.jpg?twic=v1/output=image/cover=128x128&v=2)
Looks great! Congrats on the deal! How did you find it?
Johnny