1st property using none of my $$
Investment Info:
Small multi-family (2-4 units) other investment in Jonesboro.
Purchase price: $130,000
Cash invested: $10,000
Quadplex that needed close to $25,000 in repair. One 2 bed one bath and the other 3 units are 1 bed and 1 bath. The 2 bed and 1 bath has central air and heat. The other 3 have window units and gas.
What made you interested in investing in this type of deal?
I am in college and needed a place to live while in college and I did not want to pay rent somewhere. I have listened to every single podcast for bigger pockets and they are they reason I was able to make this deal work out.
How did you find this deal and how did you negotiate it?
I had an agent call me. I told him what I was looking for. I actually had several agents that had me set up on an email list.
What was the outcome?
I am house hacking. It is a quadplex. I had to become really creative with financing. I read Brandon Turners book on investing in real estate with no or low money down and that book was really helpful to me in this investment. It talks about how financing is an art as much as it is science. I learned about a 203k loan. When I asked my lender about the 203k loan he didn't even know what it was so he referred me to another lender who knew what it was but had never used one. My quad plex needs abou