First Investment property

[Brittany Tait]

Investment Info:

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

Purchase price: $180,700
Cash invested: $10,000

Current Home, with no issues with Tenants. We Made Personal nice updates to the unit we are living in. Looking to get another multifamily unit under our belt then get our single family home this year.

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

All my husband, I have a personal interest in Fix & Flip Deals.

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

In being a Real Estate Agent, I had the searches sent to my husband. He would spot properties that could be a good deal then I would run the numbers.
Our First Home & First Investment was also my First Transaction as a real estate agent. Because the home cash flowed so well we were in a multiple offer situation. I wrote the offer with an escalating clause and attached a letter from the heart. Besides having

How did you add value to the deal?

Being the Agent

What was the outcome?

GREAT! Still here, no issues with Tenants. If we had been a little more practical with our personal remodeling costs we would be onto our next property by now. But soon!

Lessons learned? Challenges?

Personal Lesson; always make a budget when doing any remodeling & stick to it!

Landlord Lesson; Be very clear in explaining to tenants who occupied the space prior that you are in charge now. For some reason our first tenants did not understand that we owned the home.

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

Myself :)