First Real Estate Deal

6 Replies

Investment Info:

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

Purchase price: $465,000
Cash invested: $23,250

Contributors:
@Markus Jackson

Triplex in Newark, New Jersey; 9 Bedrooms, and 5 Bathrooms, currently using as a HouseHack.

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

Cash Flow

How did you finance this deal?

FHA 5% Down; Had a seller concession to cover closing cost

What was the outcome?

Projected Cash on Cash after year 1: Around 35%

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Peter Boutros

@Brent Paul Thank you! It took a while with 5% Down because we were competing with a lot of 20% Down or all cash offers. But we were patient, and we finally got one.

Originally posted by @Ryan B. :

Congrats! What is the monthly cash flow?

Ryan, once fully rented, monthly cash flow will be around $1600

 

Originally posted by @Craig Combs :

Congrats man. Hopefully the first of many

Thanks, Craig; definitely. Already on the contract for the next one. 

 

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