First long term investment

[Cody White]

Investment Info:

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

Purchase price: $165,000
Cash invested: $40,000

A two family unit in a secluded cul-de-sac in north-eastern CT with a half acre lot within walking distance of the downtown area and approximately a half mile away from a highway.

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

I wanted to invest in my retirement and my family's financial security.

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

My landlord at the time recommended the unit to me and coordinated the sale with the owner.

How did you add value to the deal?

I updates several essential functions of the home as well as added new flooring and paint to both units.

Lessons learned? Challenges?

Screen your tenants! Even if they come with the property when you buy it. Doing a proper background check can save you a lot of stress.