Updated over 4 years ago on . Most recent reply
First Investment Property
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Chambersburg.
Purchase price: $87,000
Cash invested: $21,750
Duplex with two 1br units. Tenants pay all utilities. Each rented for 650$ month. Total income 1300$ Monthly.
What made you interested in investing in this type of deal?
High income with low cost.
How did you find this deal and how did you negotiate it?
MLS through real estate agent.
How did you finance this deal?
Conventional mortgage.
How did you add value to the deal?
Added some appliances, Replaced some broken appliances, fixed a few small things, and replaced outdoor flight of steps.
What was the outcome?
Holding
Lessons learned? Challenges?
Don't buy vacant properties.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Nancy Allison Coldwell Banker in Chambersburg, PA
Charlie Miller with Freedom Mortgage
Keystone Real Estate Services Chambersburg, PA
Management - Antietam Realty Waynesboro, PA
Most Popular Reply
@Zachary Coombs congrats on the deal! How is the Chambersburg market? I've always heard the city was harder to deal with than nearby municipalities?