1st Investment blessing.

[Scharnell Williams]

Investment Info:

Small multi-family (2-4 units) other investment in Chicago.

Purchase price: $189,900
Cash invested: $6,500

2 flat owner occupied. Bought building rehabbed. Intend to duplex my unit, 1st floor down to make the 3/1 a 4/2. Live there for up to 5 years while buying more buildings.

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

I wanted the investment to work for me while still feeling like I have the space of a single family home.

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

Found it with the help of my realtor. Priced stayed the same but negotiated for 90% of the inspection items to be completed.

How did you finance this deal?

FHA

How did you add value to the deal?

I intend to duplex down to make it a 4/2. Then the building would ve 7/3 instead of 6/2.