Our first investment!

[Jason Milko]

Investment Info:

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

Up/down duplex in Brentwood. The lower unit is 2BR/1 bath and the upper unit is 3BR/1 bath. Both units have air conditioning, and both have a private storage space in the basement. Each unit has separate laundry in the basement.

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

This property was already occupied and didn’t require a lot of work. We wanted this due to our lack of experience, and are looking to gain that experience through this property.

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

I have been looking through MLS listings for a while, so I had a good idea on what prices to expect. This property seemed to have a little more potential than others in this price range, so we jumped on it.

How did you finance this deal?

Conventional 30 year mortgage through the bank

Lessons learned? Challenges?

Financing through the bank was simple and easy because they were able to explain everything clearly to us. In the future, we are looking to get more creative with financing and investigate options that require less money up front.

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

Our agent Elisa Varotto was a huge help during the search. She was able to explain everything that we should be looking for as new investors. She also referred us to a great company for the inspection, Round Tuit Home Inspection.