Small multi-family (2-4 units) buy & hold investment in Buffalo.
Purchase price: $62,000
Cash invested: $10,000
I purchased this property with a conventional loan along with my self-raised 20% down payment. I almost backed out, due to fear. Thank god I didn’t!!
What made you interested in investing in this type of deal?
This house was a steal at the time and has almost doubled in value since then
How did you find this deal and how did you negotiate it?
How did you finance this deal?
I used a conventional mortgage from Bank of America
How did you add value to the deal?
I did some basic updating (paint, etc). This one was in very good shape when I bought it.
Lessons learned? Challenges?
I learned a lot about screening tenants with this one!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I worked with Todd Danni who is as good as they come. He has since moved into commercial real estate, primarily. He’s awesome.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you