My real estate agent told me not to purchase 2 bed, 2 bath single family homes as they don’t rent well.

Even assuming you paid cash and had NO capital expenditures and did NO necessary renovations, the $240K purchase price would put you at a 4.5% cash-on-cash return!

As title states am interested in purchasing a 4-plex, owner occupying one unit and renting the 3 other.

We just helped close a purchase for a client purchasing a second home on the Oregon coast. 

Are you going to purchase something else?

I recently purchased a triplex in Phelps NY which sits on 2 acres.

It means getting ready for renters, changing insurance, posting ads online, checking out who might rent, using a rent form, being clear on who fixes what, and talking well.

So I am not new to real estate, have purchased 9 properties oos, but I am looking to transition to BRRRR strategy.

The land was originally purchased for $500,000 and we believe they spent an additional $100K on it.  

Here’s what it netted me:$52k in equity at closing: The home appraised at $185k, a full $45k over the original asking price.A solid comp for my flip about to hit the market.A happy seller who got what they were asking for and more.Satisfied buyers and sellers agents with even more commissions.Only $6k down: This is about 3% of the purchase price.I wanted to share this to help get your creative juices flowing when it comes to making deals.