1st of hopefully many!

[Chris Derbyshire]

Investment Info:

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

Purchase price: $626,000
Cash invested: $30,000

My first one! $700k appraisal and haven't started reno yet! soon to have 3 units (~1.5k/mo projected net)
renters to follow main house renos and I'll move the the smaller MIL

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

Dad has a SF and the podcast helped a lot

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

Was FSBO on craigslist from an investor looking to retire and gain more work life balance

How did you finance this deal?

Conventional 5% down, 2.50%-30yr fix
house hack

How did you add value to the deal?

renos to the main house, mil will be done this year
2 story garage can be easily converted to a 2b2ba

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

Sound CU is super helpful for a newbie
shelly answered all my questions no mater how basic or complex in a way that was easy to understand