First Property Purchased - Buy and Hold!

[Katie Bak]

Investment Info:

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

2 unit building in Chicago, husband and I occupied the top floor for 2 years and then found fantastic tenants. Both units are 2 be/1ba, but the “owners” unit has an upstairs loft and private deck.

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

Wanted my first to be owner occupied.

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

Found it on Redfin, made a low offer but accompanied it with an emotional appeal letter which helped “keep us at the table” finally agreed on a price.

How did you finance this deal?

30 year, traditional mortgage.