Got my first deal!
Investment Info:
Large multi-family (5+ units) buy & hold investment.
Purchase price: $507,500
Me and 3 partners got the first deal under our belt. We bought a house and 7 unit apartment complex. Rent rates were low for our area which we have been able to raise those higher than we even expected. I called about 30 investors in the area asking if they would be willing to sell. This guy didn't like handling the bad parts of owning an investment property. I am also a real estate agent and was able to collect commission on the off market deal.
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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- Charlotte, NC
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- Charlotte, NC
Congratulations Brett! That's awesome you have been able to increase the rent rates beyond expectations, secure an off-market deal, and leverage yourself as an agent. Do you think you are going to stay within large MF?