Updated over 7 years ago on .
First multi-family purchase
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Buckley.
Purchase price: $190,000
Cash invested: $20,000
Purchased 2 small BR houses. Converted both to 2 BR units to increase rent and value.
What made you interested in investing in this type of deal?
Getting 2 houses for the price of 1.
How did you find this deal and how did you negotiate it?
online search
How did you finance this deal?
FHA
How did you add value to the deal?
converted the garages to bedrooms
What was the outcome?
Initially I put a lot of sweat equity. However, now both units are in great shape. New roofs, windows, etc. Should be great investments for next 30 years. Rezoning will be occurring soon and I might even be able to subdivide and sell each house separate!