First Investment Property

[Paul Bird]

Investment Info:

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

Purchase price: $150,000
Cash invested: $42,000

Contributors:
Marc Edwards

This is a duplex with side by side 2/1 with garages.

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

The numbers penned out to provide cash flow that made sense for me.

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

This was a wholesale deal brought to me by my agent Marc Edwards.

How did you finance this deal?

I used a conventional 30 year loan with 25% down payment.

Lessons learned? Challenges?

Working with wholesellers can be a challenge because there is a gap between the ultimate seller and me the buyer.

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

I worked with Marc Edwards as my agent. He was amazing and worked hard on my behalf. I used Security National Mortgage. I used Seventh Wave Insurance.