My first deal was a 2 flat apartment buildng

[Kevin Williams]

Investment Info:

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

2 flat apartment building newly remodeled. First floor apartment is a 4 bedroom duplex with 2 full baths, stainless steel appliances & granite counter tops. The second floor unit has 4 bedrooms 1 bath stainless steel appliances & granite counter tops .

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

Its a nice remodeled apartment building in a up and coming area.

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

I found it on the MLS. I didn't negotiate it. My realtor didn't want to negotiate it.

How did you finance this deal?

FHA

What was the outcome?

It going ok.

Lessons learned? Challenges?

I didn't thoroughly inspect the building nor did I talk to the tenants and ask them questions before I purchased it. I found a lot of secrets about the building after I bought it.

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

No