First REI Deal Alert

Multi-Family and Apartment Investing
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First REI Deal Alert

Stacey C.
Real Estate Broker · Fayetteville, NC · Member since 2018 · 51 posts · 191 votes
Hello BP! Today my offer was accepted for a quad. It’s my first REI deal! All units are tenant occupied and the rents cover my estimated mortgage and maintenance fees and that‘s with me living there rent free! I’m super excited. 😆
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Most Popular Reply

Cody Smith
O'Fallon, MO · Member since 2018 · 14 posts · 13 votes
7y

Congratulations!  That’s great.  I also hope to be in the same situation someday.    

Since all the units are tenant occupied, what steps do you take to have one of the tenants move out so you can take their place?

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  • Crystal Taitt-Phillip
    Rental Property Investor · Richmond Hill GA · Member since 2018 · 18 posts · 3 votes
    7y

    Congrats

    0Reply
  • Peter Philando
    Rental Property Investor · Hollywood, FL · Member since 2015 · 156 posts · 93 votes
    7y

    Congratulations! I hope everything work out as expected and this is just the start of your RE investing portfolio

    1Reply
  • Stacey C.
    OP
    Real Estate Broker · Fayetteville, NC · Member since 2018 · 51 posts · 191 votes
    7y
    @Crystal Taitt-Phillip Thanks!
    0Reply
  • Jason D.
    Rental Property Investor · St. Petersburg, FL · Member since 2017 · 3k+ posts · 4k+ votes
    7y
    @Stacey Cook Nice work! I'm assuming that all tenants are on month to month agreements?
    0Reply
  • Johnathon Sesi
    Realtor · Rochester Hills, MI · Member since 2018 · 27 posts · 18 votes
    7y
    @Stacey Cook frickin awesome! Congrats! 😁
    0Reply
  • Jason Lewis
    Rental Property Investor · Chicago, IL · Member since 2018 · 12 posts · 1 vote
    7y
    @Stacey Cook great job!! I’m looking to do the same so I’m excited for you!!
    0Reply
  • Connor O'Halloran
    Real Estate Agent · Denver, CO · Member since 2018 · 10 posts · 40 votes
    7y
    @Stacey Cook CoNGRATS! I wish I could buy a 4-plex in Denver for $255K. My guess is that same unit would be at least $600K here in Denver.
    2Reply
  • Oye Dosumu
    Member since 2018 · 17 posts · 4 votes
    7y

    Bigggg congrats @Stacey C.!!!!!

    0Reply
  • Malia Sato
    Kahuku, HI · Member since 2017 · 2 posts · 1 vote
    7y
    @Stacey Cook That's awesome Stacey! I'm so excited for you🤗🏠
    1Reply
  • Trevor Hatchard
    Rental Property Investor · Newport Beach, CA · Member since 2018 · 34 posts · 15 votes
    7y
    @Stacey Cook epic ! I hope to be posting a similar post in the next year from Southern California 💪🏽 🙌🏽
    2Reply
  • Janice Reynolds
    new york city · Member since 2017 · 40 posts · 23 votes
    7y

    congrats on your first deal 

    0Reply
  • Paul Juell
    Real Estate Agent · Tucson, AZ · Member since 2018 · 27 posts · 11 votes
    7y
    @Stacey Cook That’s awesome! Best of luck to you!
    0Reply
  • Thomas Hanks
    Rental Property Investor · Fallon, NV · Member since 2018 · 16 posts · 11 votes
    7y

    @Stacey C. Congratulations on your deal.

    0Reply
  • Stacey C.
    OP
    Real Estate Broker · Fayetteville, NC · Member since 2018 · 51 posts · 191 votes
    7y
    @Jason DiClemente Yes tenants are month to month.
    0Reply
  • Stacey C.
    OP
    Real Estate Broker · Fayetteville, NC · Member since 2018 · 51 posts · 191 votes
    7y
    @Jason Lewis Thanks Jason. Not sure what your situation is but if you were procrastinating like me, you have to move forward.
    0Reply
  • Stacey C.
    OP
    Real Estate Broker · Fayetteville, NC · Member since 2018 · 51 posts · 191 votes
    7y
    @Thomas Hanks Thanks!
    0Reply
  • Stacey C.
    OP
    Real Estate Broker · Fayetteville, NC · Member since 2018 · 51 posts · 191 votes
    7y
    @Janice Reynolds Thanks Janice!
    0Reply
  • Jonathan Cox
    Rental Property Investor · Member since 2018 · 62 posts · 19 votes
    7y
    @Stacey Cook Just make sure I am reading this right, you used your VA loan to acquire your apartment building?
    1Reply
  • Lateeka A.
    Rental Property Investor · National · Member since 2018 · 66 posts · 11 votes
    7y
    @Stacey Cook congratulations!!!!
    0Reply
  • Tyana Carpenter
    Specialist · Indianapolis, IN · Member since 2018 · 8 posts · 6 votes
    7y
    @Stacey Cook congrats!
    0Reply
  • Roshan K.Pro Member
    Oklahoma City, OK · Member since 2017 · 258 posts · 215 votes
    7y
    Originally posted by @Jonathan Cox:
    @Stacey Cook Just make sure I am reading this right, you used your VA loan to acquire your apartment building?

     anything up to a 4 plex is considered residential

    0Reply
  • Amber H.
    Tampa, FL · Member since 2017 · 38 posts · 13 votes
    7y

    So thrilling! Congratulations. I hope to be where you are about a year and a half from now!

    0Reply
  • Steve Y.
    Rental Property Investor · California, Southern NH · Member since 2018 · 42 posts · 15 votes
    7y
    @Stacey Cook congrats! A huge step forward! I’m working on my first closing as well on a quad but it’s taking some time due to seller’s commitment to do the post inspection work and evicting one of the tenents. Supposed to close in October but now we’re looking into January. Hope yours go much smoother than mine! Cheers!
    0Reply
  • Steve Richardson
    Specialist · Indianapolis, IN · Member since 2018 · 31 posts · 20 votes
    7y
    @Stacey Cook congrats! And this is inspiring. Thanks for sharing
    0Reply
  • Frank Greco
    Rental Property Investor · Atlantic Highlands, NJ · Member since 2018 · 15 posts · 18 votes
    7y
    Congratulations!!!!!
    0Reply
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