My First Investment - The clock is ticking!

[Kelly Reynolds]

Investment Info:

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

Purchase price: $150,000
Cash invested: $150,000

My husband and I are currently in the process of trying to find an investment opportunity in the Illinois or NW Indiana area.

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

We want to build up a real estate portfolio to start bringing in passive income.

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

We are currently in the process of trying to build up our network, learn everything we can, and find a good deal!

How did you finance this deal?

We are currently in the process of a cash-out refinance on our primary residence to raise the capital needed to begin investing. Our goal is to line up one, two, three, more? investment opportunities that are ready to go as soon as we have the cash in hand!

How did you add value to the deal?

We will be providing the capital.

Lessons learned? Challenges?

So far, the biggest challenge is narrowing down a specific market that we like, choosing a method of investing (flip vrs. buy and hold), and building up a trust worthy team!