Updated about 7 years ago on .
My First Investment Property
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Gulfport.
Purchase price: $65,000
Cash invested: $5,500
Duplex on MS Gulf coast 1/2 mi from beach...
What made you interested in investing in this type of deal?
Great cash flow, great deal
How did you find this deal and how did you negotiate it?
MLS negotiated from inspector's report
How did you finance this deal?
FHA
How did you add value to the deal?
add combined washer/dryer unit, laminate flooring, updated lighting, updated electrical, new kitchen counter
What was the outcome?
raised rents
Lessons learned? Challenges?
reno takes longer than expected, shopping at Habitat for Humanity stores and similar reuse stores are a godsend...
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Michael Cohen of Supreme Lending, Judy Aleman and Troylynne Perrault of Latter & Blum