Updated almost 7 years ago on .
2018 was a busy year!!!!
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
I owned a mix of SFR and multi- family rentals. Total of 12 doors including my primary. 2018 was a busy year. We purchased a triplex and two- duplexes within the last four months. What a fun ride it was.
What made you interested in investing in this type of deal?
At first I started investing in SFR, but the more knowledge, curiousity and experience I've gained the more I wanted to invest in 2-4 units.
How did you find this deal and how did you negotiate it?
All my deals were found via MLS, Redfin and Zillow. I'm also fortunate to have a few good realtors that care more about the investment first and then making money.
How did you finance this deal?
Only one was through a private lender. He was amazing. If you need his information I can provided. The rest of my deals were traditional lenders.
How did you add value to the deal?
Most of my units needed a little upgrades. I installed new ACs, carpet, washers and dryers and new fencing.
What was the outcome?
Due to the upgrades, I was able to raise the rent and more peace of mind to my tenants security wise.
Lessons learned? Challenges?
As you build your portfolio, it’s really challenging to continue to do traditional financing. Some of these challenges are, more complex guidelines, more reserves requirements and able to provide full docs for all of your investments. For example my last deal fell through due to not having enough reserves. Fortunately, I was able to saved the deal with a private lender.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes. I have an awesome team of realtors, insurance broker and title companies.
