My first property and investment property
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $186,000
Cash invested: $10,000
My first property and first investment property. I bought this property with inherited tenants. Building had lots of issues and a problem tenant that I was forced to evict. Currently living in one unit and cash flowing on the building.
What made you interested in investing in this type of deal?
I wanted to buy the a building with four units for cash flow.
How did you find this deal and how did you negotiate it?
Found on MLS. Paid about asking price.
How did you finance this deal?
FHA first time mortgage.
How did you add value to the deal?
Increased rent rolls, evicted problem tenant, redid two apartments.