First Investment Property

4 Replies

Investment Info:

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

Purchase price: $15,000

I saw this originally for 19k, got it for 15k. Needs about 30k rehab I'm still getting rehab estimates from contractors.

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

Small cheap multifamily. Great location. Great price.

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

Calling around to different properties. Got ahold of the seller, and he is a really cool guy.

How did you finance this deal?

Private Money

How did you add value to the deal?

I'm going to put a new roof on to begin with. The structure is solid. Each unit is a 3-1. Looking to maybe drop low end kitchen and bath. Still have to figure out a few things as far as HVAC but I will update later.

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

I am an agent, and I have several vendors that are willing to help.

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