First property that got me into investing.

[Rodger Wilson]

Investment Info:

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

Purchase price: $210
Cash invested: $2,000

This is was my first investment. I paid too much for the property but when I bought it, it barely cash flowed. Now it is amazing. It plus my other property have really sparked my interest in getting back into investing.

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

I wanted a house after reading Rich Dad, Poor Dad

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

I talking with a realtor that owned the property.

How did you finance this deal?

Traditional mortgage.

How did you add value to the deal?

During the first 5 years when something would break I would fix it myself to save money. Now I realize this is where I probably went wrong in the deal.

What was the outcome?

2008 really helped. So many houses nearby were foreclosed on that rents really went up. Too bad I didn't have the money to buy more houses.

Lessons learned? Challenges?

Buy distressed