First Real Estate Deal
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $465,000
Cash invested: $23,250
Contributors:
Markus Jackson
Triplex in Newark, New Jersey; 9 Bedrooms, and 5 Bathrooms, currently using as a HouseHack.
What made you interested in investing in this type of deal?
Cash Flow
How did you finance this deal?
FHA 5% Down; Had a seller concession to cover closing cost
What was the outcome?
Projected Cash on Cash after year 1: Around 35%
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Peter Boutros
Wow only 5% down for a triplex. You did very well sir.
@Brent Paul Thank you! It took a while with 5% Down because we were competing with a lot of 20% Down or all cash offers. But we were patient, and we finally got one.
Congrats! What is the monthly cash flow?
Congrats man. Hopefully the first of many
Originally posted by @Ryan B.:Congrats! What is the monthly cash flow?
Ryan, once fully rented, monthly cash flow will be around $1600
Originally posted by @Craig Combs:Congrats man. Hopefully the first of many
Thanks, Craig; definitely. Already on the contract for the next one.