Getting started on a new journey

[Sid Magill]

Investment Info:

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

Just purchased my first multi family home and am excited to start looking for more...

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

I have been a property manager and am currently a realtor. I have seen how things can go right and how they can go wrong. I want to build the type of investment portfolio that allows me the freedom to enjoy life to its fullest.

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

I found this deal through a PM group in Oklahoma City.

How did you add value to the deal?

I am currently rehabbing the property.

What was the outcome?

Take out a HELOC and do it all over again.

Lessons learned? Challenges?

There are lots of little steps and not all agents, lenders, or title companies are the same. The PM group has been fantastic but they don't sell homes and so they are not knowledge about the best title companies, or lenders to work with. In the future I will work through my resources in my current market to find the best people for the jobs.

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

Yes, RPM Enterprises in OKC are amazing to work with and take care of properties well.