Investment Info:
Small multi-family (2-4 units) buy & hold investment in Phila.
Purchase price: $119,000
Cash invested: $10,000
This was my first property right out of college. Bought this 90 days after reading Rich Dad Poor Dad. We house hacked this and fixed up one side of the property and rented out the upstairs. This property has been great to us so far and we continue to have a great experience.
How did you find this deal and how did you negotiate it?
MLS and I got my Real Estate License to knock down the closing cost and get a 6% seller's assist.
How did you add value to the deal?
New kitchen and floors.
What was the outcome?
The property is now valued at $200k and still, cash flows great!
Lessons learned? Challenges?
Hire someone to do tile work. It sucks and not where you want to practice.
