First Investment Property Was a Success!

1 Reply

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Columbus.

Purchase price: $86,000
Cash invested: $10,000

First deal I purchased! I originally purchased this duplex and house hacked for a year and a half before moving out and renting my unit out.

What made you interested in investing in this type of deal?

I wanted to house hack and live rent free!

How did you find this deal and how did you negotiate it?

I drove past a "For Sale" sign and called the agent! I should have gotten a better deal, but hindsight is 20/20! It was my first deal and I've lived and learned since!

How did you finance this deal?

FHA mortgage

How did you add value to the deal?

Fixed the cosmetic repairs needed, sanded and re-stained the floor, and put a new roof on it!

Thank you for sharing your experience. I am preparing to purchase my first property (awaiting pre approval) and appreciate being able to take someone else's story as a reference. What do you think you would have done differently to have gotten a better price?

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