First multi-family purchase

[Raj Kalra]

Investment Info:

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

Purchase price: $560,000
Cash invested: $55,000

4- family residential

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

Building portfolio and this deal cash-flowed pretty well from the start.

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

MLS

How did you finance this deal?

Credit union

How did you add value to the deal?

Interior/exterior paint, minor updates, new carpet. I was able to make slight increases in rents within first 2 months.

Lessons learned? Challenges?

When you find a deal that has acceptable cash flow from the start, move fast!

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

All in house.