My First investment at just 23 years old

[Austin Jameson]

Investment Info:

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

Purchase price: $102,000
Cash invested: $80,000

Property Overview - Great Presence! This grand 3 family is awaiting your updates to bring it back to it's full character! Separate utilities, plenty of parking and each having it's own individual porch are just a few of the benefits. Units 1 & 2 have possible potential to be 3 bedrooms each.

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

Great price and beautiful 3 family with a ton of potential.

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

Online deal, my offer was lower than the asking price and took a little time before they accepted it.

How did you finance this deal?

FHA loan

How did you add value to the deal?

Remodeling the entire house and doing a new roof

What was the outcome?

Outcome was great!! I actually had a very big insurance claim as a tenants washer machine failed and flooded the whole house which took a couple years to completely finish fixing the damage. Once complete I was able to refinance for my next deal!

Lessons learned? Challenges?

I learned a TON with this house with it being my first property.