First long distance deal

[Ryan Cleary]

Investment Info:

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

Purchase price: $220,000
Cash invested: $61,000

First long distance investment

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

Living in New York makes it nearly impossible for someone to start out with limited capital. Long distance investing was a home-run for me.

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

Found it on the mls.

How did you finance this deal?

30 year fixed at 4%

What was the outcome?

All in all this was a pretty boring deal. My next deal I would like to look for value-add and get creative with financing. Turn key with 25% down is just money lost in my opinion.