First rental property

[Hector Andujar]

Investment Info:

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

Purchase price: $330,000
Cash invested: $45,000

3 Family with 5/3

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

I was envious of how a former co-worker lived owning a multi-family. After a year of working 7 days a week, i used retirement account to store then access the funds to buy the house.

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

Searched in a sellers market, where three family were flying of the selves. I viewed a place near my job and the sellers lived in one of the units. I introduced myself, in spanish and explained my plans and dreams. Which made me stand out out of over 25 showings that day. Other higher offers came in and he accepted my asking price offer.

How did you finance this deal?

FHA

How did you add value to the deal?

I am hands on, and very interactive. I do 90% of all renovations and repairs.

Lessons learned? Challenges?

Speaking out and standing out makes a huge difference in a world with billions of people.