4plex, 1st investment property

[Suly B.]

Investment Info:

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

Purchase price: $630,000
Cash invested: $60,000

Moved out of our 2 bedroom condo to pursue house-hacking in a fourplex with boyfriend
Monthly cashflow: $700.00

Lessons learned? Challenges?

We didn't do a final walk through before closing so after it was all said and done we found out there were tourists living in the garden level unit and they weren't planning on moving out. Thanks to our circle of support and expert landlords we managed to resolve that issue.