Closed on a 7 unit property I had listed
Hello BP, I'm excited to have closed on my first small apartment transaction early today! It was a nice 7 unit property here in Toledo, Oh which I thought was a great investment because it had my phone ringing off the hook the first day I listed, had multiple offers in the first week, and went under contract the second week to an out of State investor.(Which whom was actually the first person to introduced me to bigger pocket while having small talk the day we did a walk through.) I have done over 10 residential deals but this was my first multi unit transaction so I was pretty inexperience and didn't know what to expect. The buyer was experienced in these type of deals and very helpful throughout the whole process. I hired a lawyer to help put this deal together due to my ignorance to such a deal but the buyer was very ethical and didn't try to take advantage of my lack of knowledge so maybe the lawyer wasn't as necessary as I thought. All in all it was a great deal and I'm happy with the profits and to have done business with the buyer. Since I'm familiar with the area I also helped out with referrals of a contractors and property management company so if they decide to use their services than it will be a win/win for all that was involved with this deal! I love doing deals with ethical people and spreading the wealth.... Great day!!!