Small multi-family (2-4 units) buy & hold investment.
Purchase price: $179,900
Cash invested: $5,762
Living in the bottom 1 bedroom unit and renting out the top 3 bedroom unit. Rehabbing the upstairs unit currently and will be living for free once complete and rented!
What made you interested in investing in this type of deal?
I realize that housing is my single biggest monthly expense and was drawn to a small multi-family because I could get conventional financing.
How did you find this deal and how did you negotiate it?
I found this deal through the use of a realtor (Craig Stull at Renowned Realty)
How did you finance this deal?
FHA starter loan
How did you add value to the deal?
I am adding value by rehabilitating the upstairs unit and am bringing the unit to market rent (it was under by quite a bit).
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I worked with Craig Stull (realtor), who I found on Bigger Pockets! Highly recommended.
Congrats Ryan! What is you ARV going to be looking like after you rehab the property?
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