Small multi-family (2-4 units) buy & hold investment.
Purchase price: $299,900
Cash invested: $11,000
What made you interested in investing in this type of deal?
Subsidizing my mortgage payment is what interested me in this type of deal.
How did you find this deal and how did you negotiate it?
I found this deal on the MLS with Jessica Stevenson as my realtor
How did you finance this deal?
I financed this deal with an FHA loan
Lessons learned? Challenges?
Lesson learned: be weary when buying a home with inherited tenants that haven't been screened properly or at all. I had to begin the eviction process 1 week after moving in. We got as far as going to court for the hearing. We settled with him paying what he owed and being out in a few days after that date.
I worked with Jessica Stevenson (from The Lefebvre Team) as my realtor and she was professional and very knowledgeable I'd definitely recommend her to others.
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