Updated almost 6 years ago on .
I bought a 4 unit property
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Springfield.
Purchase price: $50,000
Cash invested: $10,000
I bought a 4 unit that needs a lot of work! It was my catalyst for quitting my W2 job! I wanted to be able to do the repairs myself and also start my own construction company!
What made you interested in investing in this type of deal?
Financial independence
How did you find this deal and how did you negotiate it?
Seller is my father
How did you finance this deal?
Seller financing
How did you add value to the deal?
Left rent prices the same but made electricity the tenants responsibility
What was the outcome?
The tenants all complied
Lessons learned? Challenges?
The Intention Journal by Brandon Turner is what got the wheels turning. I knew I was going to buy this property at some point but nothing was planned. The Intention Journal gave me the structure to make the deal happen! Thank you Brandon for being a tremendous source for real estate and lifestyle wisdom!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Lawyer Paul Presney covered all the bases for a smooth transaction.