Bought my first investment property.

[Mario Alexandrou]

Recently bought my first 4 unit building in the US northern Wisconsin, its a start to this new adventure.

Before giving any details on my purchase I wanted to thank Joshua Dorkin, who’s BP blog I found shortly after coming to the USA in 2004. Without BP,  I’m sure I speak for most newbies, we would all be up a creek without a paddle, however that saying goes.

So thanks to you Joshua, and your amazing team Brandon Turner etc.

Purchased property for 100K, brick building, bring in $2000 per month, previous owner had totally neglected any maintenance etc. I want to renovate extensively putting about 20K-25K per unit and bring rents up to about $750 to $800 per unit.

I know I’m taking this from a 2% to a 1.6% ratio but this way I know its a solid product and our PM can place some good tenants, looking long term.

[Stuart Birdsong]

Congrats, Mario! It sounds like a good jumping off point for investment portfolio. Cheers!

Stuart