Updated about 1 month ago on . Most recent reply
Initial Investment Property
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $150,000
Cash invested: $20,000
This property was my initial investment property. It was an off-market deal that I found out about at a food truck outside of my full-time W2 job. I had just looked at properties over the weekend with my agent, and I was super discouraged about whether or not I could afford to get into the real estate investing world. While talking to a nurse I work with, another guest waiting for her food came over to chat with me about a property she and her fiancé were planning on listing. We exchanged numbers, and after a discussion with her fiancé, I realized this was a real deal. My agent helped to faciliate the sale. It is a cool story and I am happy to share more for any who is interest in hearing it.
What made you interested in investing in this type of deal?
It is something that I always wanted to do as a kid. After my divorce, I finally had the guts to pursue it. The numbers seemed to work out pretty perfect for me which was another reason why I wanted to purchase it.
How did you find this deal and how did you negotiate it?
It was an off-market deal I found outside of a food truck at my place of employment.
How did you finance this deal?
Conventional owner-occupied financing.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I worked with Lisa Pfaff as my agent for this deal. She was a driving force in encouraging me to become an agent myself. We now work in the same office for Shorewest Realtors.