Duplex investment purchase

[Jonathan Beaumont]

Investment Info:

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

Purchase price: $150,000
Cash invested: $37,500

This is a duplex in Lancaster Ohio.

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

The price and the location. Based on my research, Lancaster is a B class neighborhood that is about a half hour away from Columbus.

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

I found this deal through an agent. I negotiated the price based on repairs that were needed for the property.

How did you finance this deal?

I used a conventional 30 year fixed loan.

How did you add value to the deal?

I had some minor cosmetic repairs done do the property.

What was the outcome?

Both units are now occupied.

Lessons learned? Challenges?

In the future I will avoid properties with large cap ex that are soon due, or I will negotiate a better price for those kinds of properties.

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

I worked with Jonathan Pavkov. I enjoyed working with him, he was responsive and helpful.