My very first investment

[Sergeous Anikin]

Investment Info:

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

Purchase price: $285,000
Cash invested: $63,000

4 individual townhome units. 2x 1/1 and 2x 2/2

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

It just happened to cross paths with me when i was in the market to finally invest.

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

MLS access

How did you finance this deal?

Conventional loan, 15% down w/ all kinds of surprise fees and MI because of it was not 20%. Couldn’t make it work for 20% at the time and have required funds for closing.

How did you add value to the deal?

Raised rents. Got out of property management and managed them myself. Turned 2 units into successful airbnb units

What was the outcome?

Went from ~$800 monthly NET to ~$4500 NET

Lessons learned? Challenges?

Too many to list. I think I got every challenge possible in my very first deal, knock on wood.

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

Yes, Felicia from Swansboro Port Realty was great!