Updated over 4 years ago on . Most recent reply
Two unit buy and hold
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $61,000
Cash invested: $12,000
2 Unit investment property close to a major hospital and downtown Erie, Pa. This was one of my first acquisitions approximately 15 years ago.
What made you interested in investing in this type of deal?
Easy to manage for a beginner.
How did you find this deal and how did you negotiate it?
Found this deal through deal analysis and negotiated through realtor.
How did you finance this deal?
Conventional Financing
How did you add value to the deal?
I got this home with 10% equity left in it.
What was the outcome?
Buy and hold for 15 years. Positive results, spend no time with property, one of our tenants manages it .
Lessons learned? Challenges?
Had a couple of years that were higher vacancy rates.