Seller Financed First Investment Property
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $350,000
Cash invested: $50,000
I found a duplex for sale by owner on my local Facebook Marketplace. Owners had owned it for close to 20 years and were ready to retire. Luckily, they didn't do almost any marketing and I was able to get a quick showing and provide an offer shortly thereafter. I negotiated a seller financed deal, the seller was getting the price they wanted (which was still under market value) and I was getting a turn key duplex less than a mile from Lambeau Field with a very tolerable interest rate.
What made you interested in investing in this type of deal?
Passive income, proximity to a major tourist attraction
How did you find this deal and how did you negotiate it?
Facebook Marketplace, negotiated a seller finance deal. Stressed the tax savings the owner would receive, provided multiple offers (cash, seller finance) for the seller to choose what they preferred.
How did you finance this deal?
Seller financed, 30 year amortization with a 5 year balloon
How did you add value to the deal?
Getting current tenant closer to market rent, getting the other unit licensed for STR