Updated over 5 years ago on . Most recent reply
Purchased my first property
Investment Info:
Small multi-family (2-4 units) fix & flip investment in Indianapolis.
Purchase price: $85,000
Cash invested: $30,000
Duplex from a wholesaler
What made you interested in investing in this type of deal?
Cashflow
How did you find this deal and how did you negotiate it?
Wholesaler email blast. I took up their offer to pay a little extra from their asking price to have the first option on the property.
How did you finance this deal?
Cash then did a cash-out refinance with delayed financing,
How did you add value to the deal?
It was Turnkey
Lessons learned? Challenges?
No challenges so far. I assumed since it was a wholesale deal I couldn't get a property inspector in, but next time I will!
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#1 New Member Introductions Contributor
- Solo 401k Expert
- Anaheim Hills, CA
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#1 New Member Introductions Contributor
- Solo 401k Expert
- Anaheim Hills, CA
Congratulations on your first property Stephen!