Updated about 6 years ago on . Most recent reply
My Second Rental Property
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $255,000
Cash invested: $40,000
This one was also before I joined the bigger pockets community. This property I bought from a family member. We put in about $15,000 in rehab. We bought it well under market value and through forced appreciation have gained a lot of equity.
What made you interested in investing in this type of deal?
I now understand the numbers behind cash flow, financing, and a whole lot of other stuff that goes into real estate investing. My market is pretty saturated and the market is high, but I'm still excited to invest here. I'll will be much more diligent on not settling and finding great deals. I'm also going to start looking out of state for properties.