Replicated Brandons strategy and purchased a Duplex for Daughter

[Mary Cotter]

My first forum post! I posted about this on Facebook and IG and David Greene encouraged me to share on the forums here.... so here goes.

Last week I was able to check one of my big goals off for the year! Our family closed on a duplex that will be my Daughter, Sky's when she turns 18. It's going to be on a 15 year amatorization schedule so when my daughter  graduates high school it will be paid off and she can decide if she wants to continue to rent it out for cash flow, live in it, refinance it to pay for school or start a business or whatever, or sell it. In the meantime I will teach her the art and science of real estate investing and she will learn how to run and manage the investment. My goal initially was to have this done by the end of last year but fear, analysis paralysis, not finding the perfect deal (hint: none of them are), and being "too busy" kept me from getting it done. Finally I told enough people what I wanted to do and put it on my vision board so it came to life. Sky's first reaction was "no I don't want a dublex" (with a terrified look on her face) but after further explanation, coming to closing, walking the property (realizing she didn't have to live there right now she was on board. So in 14-15 years she will either love me or hate me for this but such is parenting right?! Thank you to beardybrandon for letting me take one straight from your playbook by teaching how you did this on BiggerPockets and for the endless content you, David Greene and @joshdorkin give to the real estate community for people like me to benefit from for FREE. I'm so grateful to have such a great team of people to make it possible. Thanks Jennifer E. Jensen - lender extraordinaire - for working with me on this one to get this beautiful property. Restoration Boulevard for taking over on property management (day 1 and they have an approved applicant for the vacant unit moving in asap). Thanks to the investor and private lender for believing in me and the vision and helping to make this possible. This is our first deal together but not our last. Thanks Jodi Graf for having such an amazing brokerage - Premier Point Realty LLC that allows me to use my real estate license as a tool to help me build our portfolio. And Dairyland Home Inspection LLC for the thorough home inspection.