This was my first deal located in Philadelphia

[Gershom Lewis]

Investment Info:

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

Purchase price: $82,000
Cash invested: $1,000

First floor, One full bedroom apartment on the first floor
Second floor, two bedrooms (kitchen and bathroom)
third floor, one studio

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

It was a multiunit property

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

A good friend brought me to PA, and I went to a real estate office.

How did you finance this deal?

Wells Fargo

How did you add value to the deal?

Paint, pulled carpet, fixed the ceiling, and put up new walls.

What was the outcome?

I sold the property for $130,000

Lessons learned? Challenges?

Do more research, and create a team. I would have still had the unit if I had a property manager.