Updated about 3 years ago on . Most recent reply
My firsy investment.
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $250,000
Cash invested: $16,000
4 bed 2 bath duplex I house hacked. It sits in a great area near good school and the mall.
What made you interested in investing in this type of deal?
After reading several books and talking with my brother I decided that house hack was my best entry strategy into real estate.
How did you find this deal and how did you negotiate it?
I found an agent through zillow who went through several properties with me before i settled on this one.
How did you finance this deal?
FHA loan.
What was the outcome?
I now own my first property and it will generate good cashflow for years to come.
Lessons learned? Challenges?
Although I made a pretty good deal I think I could have been more profitable if I had known then some of the lessons I have learned since the purchase.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
If your looking in or around Chattanooga, TN, Patrick Jenkins is a fantastic agent. He also got my mothers house sold 10% above asking price 1 day after it went on the market.