The First Home I Bought

[Chris Perrotta]

Investment Info:

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

Purchase price: $196,000
Cash invested: $7,500

I live in it and rent out the upstairs.

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

I needed to move out of my parent's house and didn't want to pay for it myself.

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

I wasn't a real estate agent at the time so I used someone my friend referenced.

How did you finance this deal?

FHA Mortgage

What was the outcome?

I have had tenants for the last 2 years paying my mortgage for me and that allowed me to become a Real Estate Agent.

Lessons learned? Challenges?

Being a landlord is harder than it seems but at times can be very simple.

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

Since I am now a Real Estate Agent, I recommend myself.