How I Bought a 4plex As My First Investment Property (+The Numbers) | The Journey to Wealth 12

Investment Strategies
How I Bought a 4plex As My First Investment Property (+The Numbers) | The Journey to Wealth 12

Wonder how I purchased a 4 plex at a BIG discount in the hottest market in the country – Las Vegas, NV? I was able to purchase this property nearly $40k off the market value by being persistent, patient, and convincing a seller to use seller financing to sell the property to me.

If you’re a beginner and haven’t been able to land a deal yet, hopefully this video will show you that sometimes you need to be really persistent when pursuing your first investment property.

*** How I Found the Deal ***
I purchased a list from ListSource of small multi family owners in Las Vegas.
I wrote handwritten mailers multiple times to every owner.
A few owners called me from my mailers.
One owner owned the property 100% and was open to seller financing

*** Seller Financing ***
Seller provides the financing instead of a bank or traditional lender
I offered him the option of holding a note of $240k, 5% interest, amortized over 30 years, no balloon

*** The Numbers ***
Purchase Price: $260,000
Interest Rate: 6.5%
Property Taxes: $1,600 / year
Insurance: $168 / month
Gross rents: $2,550

*** The Deal ***
My first deal will hopefully be my worst. This is my first 4 plex investment property and I made a lot of mistakes. This deal taught me how to buy real estate investment property. The property likely will be break even or slightly negative cash flow. Finding and closing on this 4 plex investment property was a great real estate crash course for a beginner and I learned a lot. I’m hoping this deal will help me land future 4 plex investment properties in better areas.


★ From $0 to $4,500 a Month in Income ★

★ From $4,500 to $7,000 a Month in Income ★

★ From $7,000 to $10,000 a Month in Income ★

★ How I Went From $0 to $100k Net Worth in Under 3 Years ★

Multi-Family Millions:
The Book on Rental Property Investing (Bigger Pockets):
Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple:
The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants with Fewer Headaches and Maximum Profits:
The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties:
The Book on Estimating Rehab Costs: The Investor’s Guide to Defining Your Renovation Plan, Building Your Budget, and Knowing Exactly How Much It All Costs (Bigger Pockets):
Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties:

Choose Yourself!:
Traction: How Any Startup Can Achieve Explosive Customer Growth:
Tools of Titans:
The 4 Hour Workweek:
Shoe Dog: A Memoir by the Creator of Nike:
Hatching Twitter: A True Story of Money, Power, Friendship, and Betrayal:
Chaos Monkeys: Obscene Fortune and Random Failure in Silicon Valley:
The Accidental Billionaires: The Founding of Facebook: A Tale of Sex, Money, Genius and Betrayal:
Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future:

The Obstacle Is the Way: The Timeless Art of Turning Trials into Triumph:
The ONE Thing: The Surprisingly Simple Truth Behind Extraordinary Results:
Deep Work: Rules for Focused Success in a Distracted World:
Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets (Incerto):
Talent is Overrated: What Really Separates World-Class Performers from Everybody Else:

Products You May Like

Articles You May Like

Office Supplies
Smith-Clementi, The Architects Behind Some Of The Most Famous Music Venues In The U.S., Are Launching Their Own Firm
NKF Veteran Recruited to Form MF Capital Markets Group
Buying a House in Portland Oregon | Portland Housing Market
Caribbean-like lagoons give homebuyers the benefits of the beach without the risk
Avoiding Capital Gains Tax When Selling Property

Leave a Reply

Your email address will not be published. Required fields are marked *