Officially Closed on My First Multi!

11 Replies

After a 30 day escrow that took 60 days, finally closed on my first 4 unit property!

Very exciting to inherent tenants, and I am sure its going to be a great learning experience. I listed my SFR in June, and had 3 buyers fall out of escrow, so this whole ordeal took about 6 months to close! Funny how closing is supposed to mean the end, however its only the beginning with BRRR strategies.

@Brandon Rodriguez - well done and congrats! It's always exciting to read about these kinds of things.

I definitely agree with you that the closing doesn't mean that it is the end.

How was the experience like? Would you say that there were any things you could have done better in the process? I'm totally new so any interesting or horror stories that you can share, I'd be open to listening. :D

Congrats! Sounds like it was meant to be!

Congratulations, @Brandon Rodriguez . If you have the time, this is a great opportunity to share your experience with others by writing a blog or a post. We'd love to hear numbers, how you inspected the property and tenants, problems with closing, or whatever details you can provide.

@Vicki Lau

@Nathan G.

I will absolutely update with a post with all the details. Currently working on migrating/inheriting the tenants and leases. I will definitely post the details on that since that was one of the challenges for me, especially since it was my first time doing it. I have quite a few details to come..

Buying and selling is a roller coaster ride for sure.

Congrats Brandon!  Multifamily real estate is a fantastic investment long-term.

Thats great, @Brandon Rodriguez ! Thank you for sharing! We are completing our first flip, soon to be on market (Oklahoma) and aggressively seeking small multifamily such as yours, patience. Your story fuels the excitement to come on our real estate venture journey/marathon. Keep progressing and growing!  Great things to come!

Thanks for the update, @Brandon Rodriguez - will be keeping an eye out for your story. Carry on and happy holidays!

@Nathan G. I finally had a chance to sit down and write a blog on it, its in the blog section.  Check it out!

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

Lock We hate spam just as much as you

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here