My first foray into REI…

2 Replies

Investment Info:

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

Purchase price: $306,500
Cash invested: $3,500

Bellingham triplex: two, 2 beds; one 1 bed.

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

House Hack!

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

My amazing friend and real estate agent Miguel Brionez

How did you finance this deal?

VA loan, plus some closing costs

How did you add value to the deal?

Rehab’d the unit I moved into, and as tenants moved out, I rehab’d one other unit. Rents were insanely low in this property in 2016 prior to purchase. I have no increased rents to current rental market in my area, and am cash flowing approximately $2k every month.

What was the outcome?

Outcome was better than I ever could have imagined

Lessons learned? Challenges?

I have been lucky with this property. Only a couple minor tenant issues, and some inevitable property updates and replacements of appliances and fixtures.

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

Miguel Brionez, ReMax Bellingham, Wa. I highly recommend him!

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