4plex second deal ever

[Roland Charles]

Investment Info:

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

Purchase price: $75,000

This was a 4 plex that was rehabbed mostly with State funds

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

It was a multi family

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

I bought from an investor who was looking to liquidate

How did you finance this deal?

Creative financing. Seller held mortgage

How did you add value to the deal?

I rehabbed the property, raised the rents, and found good tenants

What was the outcome?

Years of successful rentals

Lessons learned? Challenges?

inspect properties that you're buying

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

no