My First Real Estate Investment

[Account Closed]

Investment Info:

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

Purchase price: $540,000
Cash invested: $150,000

Two-story legal two-family brick structure; circa 1926.

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

Right next door to where I grew up.

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

Neighbor gave me first shot at buying it.

How did you finance this deal?

Conventional.

How did you add value to the deal?

Full-gut renovation, from the beams up.

What was the outcome?

Very modern amenities within a very desirable home.

Lessons learned? Challenges?

Plenty of challenges, all worked out; main lesson, make sure you have, and stick to, a very well thought out plan.

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

Sorry, no.