Real Estate Investor · Ann Arbor, MI · Member since 2017 · 75 posts · 52 votes
Well, two actually. After 14 months of courting the seller and working through the purchase process, we have finally closed our first deal. Two, 8 unit buildings. We are looking forward to learning this business and moving into bigger complexes as we gain more knowledge and grow. It feels good to finally see some return on our time investment. Thanks to all the BP folks that helped us to get this done.
Thanks @Don Konipol! We were going to make it happen one way or another. Not giving up when it gets hard or looks bleak is the difference between success and also ran.
@Derek Gibbs congratulations! Can you share your experience on getting commercial financing for the first time. Pricing, terms, amortization schedule, lender (local bank, or someone else)? Thanks and again congrats!
@Derek Gibbs How are you, congrats on your first two deals, motivation. Could you shed some light on the purchasing process of the multifamily? Basically the type of loan and down payment required.