Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago,

User Stats

5
Posts
1
Votes
Patrick Davis
1
Votes |
5
Posts

My first non-house hack investment

Patrick Davis
Posted

Investment Info:

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

Purchase price: $62,000
Cash invested: $10,000

I purchased this property with a conventional loan along with my self-raised 20% down payment. I almost backed out, due to fear. Thank god I didn’t!!

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

This house was a steal at the time and has almost doubled in value since then

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

MLS

How did you finance this deal?

I used a conventional mortgage from Bank of America

How did you add value to the deal?

I did some basic updating (paint, etc). This one was in very good shape when I bought it.

Lessons learned? Challenges?

I learned a lot about screening tenants with this one!

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

I worked with Todd Danni who is as good as they come. He has since moved into commercial real estate, primarily. He’s awesome.