First purchase 4 unit apt building

[John Leake]

I recently purchased my first real estate deal recent as of 6-14-18. The property is in a small town and is a 4 unit apartment complex that needs lots of attention. My brother is a contractor and him and I will be doing the vast majority of repairs. Getting funding wasn't the easiest as it was a construction loan on a property that I wouldn't be living in. I was able to find a bank, First Financial that would work with me. I got the property bought for 57,700 it had been repossessed by the bank. I also got funding for the renovations of 64,100. The appraisal of the property was 150,000 so when all said and done with the project I will have equity in it. We are already underway on doing the renovations but I felt like this was still a good opportunity to share where I am at so far. Any questions feel free to leave them below and I'll try to answer as quick as I can. Bigger Pockets has definitely expanded my knowledge of real estate in general I never would have guessed all the different avenues that exist to invest in real estate.

Thanks,