First Investment Property

[Christopher Robins]

Investment Info:

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

Purchase price: $108,000
Cash invested: $29,000

This property is a four unit apartment building, consisting of 1, 2 bedroom 1 bath and 3, 1 bedroom 1 bath units.

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

I've always been interested in multi family. At this time I wasn't real knowledgeable about investing. I just kind of jumped in the water and learned to swim.

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

I found this deal on the MLS

How did you finance this deal?

I used a conventional loan

How did you add value to the deal?

I added value to the deal by raising rents

What was the outcome?

The outcome was me buying a lot of sense. Not having the financial knowledge that I needed cost me some money because I was so inexperienced, but i never gave up and I learned from my mistakes.

Lessons learned? Challenges?

It is important to know the numbers.

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

I worked with a Realtor on my first investment property.