Updated over 5 years ago on . Most recent reply
First Property Multi Family Deal
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Petawawa.
Purchase price: $240,000
Cash invested: $23,000
Small multi-family with a down stairs apartment (granny suite)
What made you interested in investing in this type of deal?
Loved the lower apartment, and knew that it was going to hold value but most importantly that it would rent right away.
How did you find this deal and how did you negotiate it?
Found deal through a website called Remax. And negotiated price after walkthrough and inspection.
How did you finance this deal?
Down payment through personal funds, and mortgage through credit union.
Lessons learned? Challenges?
Lesson learned that I need to know more of what rent goes for (asking prices) and that there are larger costs that go into the sale or purchase of a house
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Worked with an agent who helped me through the entire process and really got me understanding everything.