Closed on my second Duplex!

[Zac Boelkow]

Just a little ray of hope to others on here. I have been cranking out the podcasts from #1. Listening, researching, reading, and re-listening. I have learned sooooooo much and built my self confidence along the way because of BP. I have been using all this information on my search of buying another duplex since October 2018. I have been in contract Three times, have so many offers out, and finally closed a deal on Monday! It took me four months of negotiating with the seller on this deal. We both used realtors and I had to ask them both to allow me to negotiate directly with the seller and then we brought the realtors back in after we sorted it out. Because of what I learned on BP I obtained owner financing at 3% on a 30 year term :) also had the sellers help in transitioning the sale and raising the rents without issue. Add a roof here, cut a cost there, reduce price, etc etc etc and the numbers are somewhere 10-12% returns. Once all repairs, taxes, insurances, etc get recalculated I'll know exactly what it is producing but for sure in that 10-12% range. My realtor I used is also an investor and is totally besides himself that I was able to get this deal with such favorable terms in such a "hot market" So I say to everyone: press on, keep on keeping on, it took me a full year but I stuck with it. I just kept on working and pushing on and was able to buy a duplex with an immediate $35,000 worth of equity that is going to produce a solid 10% return in an extremely competitive and hot market all while running a small business as my 9-5. Thanks BP!!!