first real estate deal

[Matthew Ramirez]

Investment Info:

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

Purchase price: $500,000
Cash invested: $75,000

my first rental property.

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

monthly cash flow/appreciation

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

mls and made a full price offer just months before the market heated up like crazy.

How did you finance this deal?

fha loan i put %17

What was the outcome?

house hack (my first home) rents from the other two units basically cover my mortgage and allow me to have a house i other wise could never afford. appreciation has sky rocketed since i purchased last year.

Lessons learned? Challenges?

i am learning alot as i am only 23 and became a landlord right off the bat as it was occupied when i purchased, i had absolutely no idea what i was doing and i just jumped in and so far so good.