Closed on my first deal today! 6plex Fresno ca

[Jake Mchaley]

Hello everyone, I have been silently reading and viewing all the great info BiggerPockets has to offer. I have been in the learning phase for the better part of a year now. I want to thank everyone for the great content that helped give me the confidence to take the plunge! I was able to find a good deal in Fresno California. 6 plex with 2 bed 2 bath units about 950 sq ft each. Once I get the 2 vacant units updated and rented it will cash flow $240 per unit. There is definitely room to increase rents and I will have equity from the start (especially when I make some of the improvements I have planned). I did a lot of research before selecting my real estate agent and I hit a home run, he is a rockstar! Once this property stabilizes I will be on the hunt for my next deal. Thinking about doing a flip next so I can build up enough capital to purchase another multi family with 5+ units. Thanks for viewing Jake

[Jake Mchaley]

here is an update on my progress with the property. We are working on the many deferred maintenance Issues as we go. We were able to rent the vacant unit for $800/mo very easily and we got a great tenant so far. 2 other tenants are on their way out (one rent was $580/mo and the other $625/mo) so we will get those 2 turned around and rented for $800 in a couple months. All the rest of the tenants are at $750 and will get small increases when their leases renew! I'm learning a ton and I am very greatfull that I was able to get such a good deal.