Turn key investment to get my investing career started

Rental Property Investor · Newark, NJ · Member since 2017 · 88 posts · 75 votes

Investment Info:

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

Purchase price: $340,000
Cash invested: $60,000

This was a turn key 3 family property to get my investing career started. I wanted something that would be cash flowing immediately.

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Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

Looks like a tidy sturdy building Nice job for first prop.

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Dan Barli
Attorney · Clifton, NJ · Member since 2015 · 1k+ posts · 328 votes
5y
Congratulations Anthony. Did you close on it? What are the rents you're getting?
0 Reply
Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
5y
Looks like a tidy sturdy building Nice job for first prop.
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Wes Anderson
Rental Property Investor · 114 Main St, Anaconda Montana · Member since 2015 · 5 posts · 4 votes
5y
Congrats!
1 Reply
Anthony Marin
OP
Rental Property Investor · Newark, NJ · Member since 2017 · 88 posts · 75 votes
5y
@Dan Barli
Hi Dan, yes we closed on this property in 2014 and still own it now. We are getting $4400 a month and rents are below market. Those tenants have been there since we bought and we increase every year but they are great tenants and we cash flow well.
0 Reply
Anthony Marin
OP
Rental Property Investor · Newark, NJ · Member since 2017 · 88 posts · 75 votes
5y
@Wes Anderson @Jay Hinrichs Thank you. I really got lucky with this as my first deal. Property and tenants are great and we still own it.
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