Here is my first duplex

[Jonathan Tucker]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $675,000
Cash invested: $20,000

This is my third deal. First small multifamily (duplex).

What made you interested in investing in this type of deal?

I wanted to start working on increasing cash flow with my first multifamily property. I am only breaking evening right now but rents will increase as value is added. I kept the tenants in place after purchasing but increased the rents closer to market rates. I

How did you find this deal and how did you negotiate it?

I found this property on zillow and sent it to my agent. This is a crazy sellers market right now but I was able to get this deal below listing price. How? The sellers agent wasn't good at his job.

How did you finance this deal?

I used a conventional loan with 5% down.

How did you add value to the deal?

I've already replaced a dishwasher and upgraded a few power outlets.

What was the outcome?

The tenants were happy to pay the increased rents because I came in making repairs.

Lessons learned? Challenges?

Cash reserves is key!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Darren Kuhn DRE #02111792

Keller Williams Luxury Homes 760-459-4556