First small multi family

[Ronny Tiburcio]

Investment Info:

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

Purchase price: $405,000
Cash invested: $20,750

2 family home in a hot Rahway Market. The home features 3 bedrooms, 1 bathroom in each unit. 4 car garage with a garage. Property also has a pretty big back yard.

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

I needed a place to live so why not house hack.

How did you finance this deal?

I used a Conventional loan. Put 5% down with no PMI.

Lessons learned? Challenges?

I learned that even though you pay 3 months ahead of property taxes to escro, you still have to make payments for the property taxes.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I strongly recommend anyone buying or selling a property in Rahway New Jersey to work with Jorge Casalins