Multi-family Investment 1

[ToRena Webb-Thomas]

Investment Info:

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

Purchase price: $159,000
Cash invested: $71,000

4 units, 2 2-bedrooms, 2 1-bedrooms I purchased this with an adjacent multi family right next door for the sma e price.

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

Kept reading about owning a small multifamily. I have 1 3 bedroom and live on one floor. I wanted to see if I could add another.

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

Originally asked $164,00, negotiated to $154,000

How did you finance this deal?

15 year fixed Conventional

Lessons learned? Challenges?

No challenge, but wondering if I should've done 30 year mortgages on rental properties. I'd like to find local contractor to renovate/rehab the bathrooms and kitchens.