Our 1st investment property
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $225,000
Small quad
2, 2 bedrooms 1, 1 bedroom, and 1, studio
What made you interested in investing in this type of deal?
My father owns a few investment properties and has been in and out of various real estate deals in my life. It was always his advice that my 1st purchase be a multi unit and the queen and I were only looking for a duplex and came across this quad a little out of what we wanted to spend but it seemed like a great deal.
How did you find this deal and how did you negotiate it?
We found the deal through our realtor. She had been very vigelant in showing what we asked for and then she showed us this. We did it the seller was asking 250k and we got her down to 225.
How did you finance this deal?
We did a 203k loan
What was the outcome?
Still going we plan on holding this for a while