The property is residential and improvements consist of adding new central air to both units.

@Sam Leon I had a landlord just like you and I have to say that you guys are a nightmare.Mine used to send me email about having guests over to my house and etc, everytime I had a guest he would ask when is he leaving, its super annoying and harassing, you need to take a chill pill and stop.

Purchase price: $6,170,000 Cash invested: $1,800,000Multifamily consisting of 216 units Located in Lawton, OklahomaAcquisition:Purchase Price -- $6,170,000Capital Improvements -- $1,193,750Closing Fees & Carrying Costs -- $156,250All In Cost -- $7,550,000 Stabilized Projections:Net Operating Income -- $737,659Cap Rate at Basis -- 9.8%Stabilized Value -- $10,540,000Equity Created -- $2,990,000New Loan Amount -- $7,910,000Refi Loan Proceeds -- $360,000Annual Cash Flow -- $213,507What made you interested in investing in this type of deal?

My plan currently consists of daily reading, podcasts, forums, saving cash for reserves and to fund my first deal cash (or mostly cash).

Consistency usually separates the weak from the strong.

I am trying to figure out a way to start my real estate sales business but still be producing a consistent amount of active income until I am busy enough to live off commissions.

They consistently keep 7 or 8 of the apartments full at all times.

Have you had consistent income over the 2 years?

I was pretty consistently getting quotes for 1 point. 

We have read that you need 2 years of a consistent employment track record though, so if that’s true, if they’re strict about it, then we were planning on waiting a couple years while we save up $ since we just got our jobs.