Closing on my 2nd 4-Plex
So last year I closed on my first 4-Plex with the help of co-signer on a 15 year loan. Things have been good the property sits on more of an Ag setting on 5 acres so there is about 2 of those acres that need mowed and the tree's all taken care of and there was some deferred maintenance on the property so I have been spending a lot of time on the outside of the units and doing the small things when they come up or someone moves out. Things have been good and I really enjoy it.
Out of no where this week a person I know told me he wanted to sell his 4-plex in town. Long story short I was able to talk to him and convince him to carry the loan for 5 years and then I will need to go get a loan after that. So I am closing on my second 4-plex November 1st!
Needless to say I am pretty excited. I had gotten pretty discouraged last year trying to find a property that I would be able to buy and hold and now I am closing on my second in almost 1 year.