My first deal in the real estate investing world

[Robert White]

Investment Info:

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

Purchase price: $90,000
Cash invested: $22,500

Duplex with both units rented

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

I liked the idea of having more than 1 unit. That way if someone moved out the property was still 50% rented.

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

Found it through a realtor. I offered them 40,000 under asking and they accepted

How did you finance this deal?

Commercial loan with 25% down

How did you add value to the deal?

New concrete, exterior paint and updated one of the units that was vacant at the time

What was the outcome?

It has been a good cash flowing property.

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

Yes I used Sonya Riskus with Brokerage Southwest. She is amazing. She has become more then just a real estate agent. She is part of the family now.