Starting with a small seed

[Willie Cook]

Hey folks, 

I started a discussion a while back concerning a land contract deal in a neighboring suburb: Duplex 3/1 on each side, $159,000 sale price, 4% interest, just under $1250/mo mortgage, cashflowing $200/mo, 2 tenants currently, good shape...long story short, I closed on that. I have been putting a few hundred in reserves for repairs since then. 

On to today's subject. I have about $12k that I want to invest in an additional duplex to grow my portfolio. There are a number of duplexes around a local university and the city of Akron going for $15k-$24k, would a hard money loan now and convert to the BRRR method in a year be a workable option here? What would be your move with $12k to invest?