First Deal Complete!

[Anthony C.]

Investment Info:

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

Purchase price: $255,000
Cash invested: $24,000

Duplex in the South Wedge with two units each with 3-bedroom, 2-full baths, and 2-half baths. Current estimated monthly cash flow is $190 with room to improve. Plan to house hack once lease expires.

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

Wanted to begin my investment career with a multi-family that would double as my primary residence.

How did you finance this deal?

Conventional Mortgage, 5% down

[Cory O'Dell]

Originally posted by @Brandon Frulla:

@Anthony Cifarelli congrats! I hope to be buying my first property in a few months. Is there any reason why you went with a conventional 5% loan when you (potentially) could've gone with a 3.5% FHA?

Sounds like he doesn't live in the property and FHA needs to be owner occupied.