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The journey to this moment had been a crash course in real estate reality. 📉 The Hunt and the Math
He almost backed out. But instead of walking away, he used the inspection report as a weapon. He went back to the seller. "The property needs $30,000 in immediate repairs," Leo argued through Elena. "Drop the price by $20,000, or I walk." buying a multifamily investment property
He was no longer just a guy with a tech job. He was a landlord. He was an investor. The journey to this moment had been a
Buying a multifamily property was vastly different than buying a regular house. The bank didn't just care about Leo’s credit score; they cared about the building's income. The inspection was a nightmare. The roof had two years of life left, max. The electrical panels were ancient. A plumbing leak had rotted the subfloor in Unit 1. He went back to the seller
The air in the old radiator hissed like a cornered cat, but to Leo, it sounded like cash flow.
The seller, tired of dealing with the property from afar, agreed. 🔑 Moving In and Stepping Up
Leo did the math. If he bought it, renovated the vacant unit, moved in himself (the classic "house hacking" strategy), and slowly updated the other units as tenants naturally moved out, the numbers were explosive. 💥 The Crucible of Closing
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