First Investment in portfolio

[Joey Barcelos]

Investment Info:

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

Purchase price: $120,000
Cash invested: $12,000

3 decker in an inner city

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

Started my investment portfolio

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

Local Realtor
Don't actually remember the negotiation

How did you finance this deal?

My own cash down payment instead of funding an IRA

How did you add value to the deal?

Deleaded the units over time to attract younger families

What was the outcome?

Have refi'd the property a few times to invest in future properties. This property has paid us back in spades...

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

The agent was a local agent that had hurt her back and sent us the deal via fax...