Buy and Hold with Nothing Down

[Adama Sombie]

Investment Info:

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

Purchase price: $388,000

3 Units property with double lots.

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

Build a consistent monthly cashflow with a slow growth of equity

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

Using real estate website and the help of my agent.
I was able to negotiate a 10% credit from the seller for repairs

How did you finance this deal?

Using a first time buyer program with NACA

How did you add value to the deal?

Using an additional 10% of the appraisal price with a lower interest rate added to the mortgage

What was the outcome?

Positive cashflow and potential to build a new building on the second lot