Purchased my first property

[Stephen Burden]

Investment Info:

Small multi-family (2-4 units) fix & flip investment in Indianapolis.

Purchase price: $85,000
Cash invested: $30,000

Duplex from a wholesaler

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

Cashflow

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

Wholesaler email blast. I took up their offer to pay a little extra from their asking price to have the first option on the property.

How did you finance this deal?

Cash then did a cash-out refinance with delayed financing,

How did you add value to the deal?

It was Turnkey

Lessons learned? Challenges?

No challenges so far. I assumed since it was a wholesale deal I couldn't get a property inspector in, but next time I will!

[Dmitriy Fomichenko]

Congratulations on your first property Stephen!