Stanley Duplex Oil Town

[Austin Hoover]

Investment Info:

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

Purchase price: $157,000
Cash invested: $1,000

Oil Duplex rental

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

I wanted a place to live in and not pay rent

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

Facebook, I got a realtor friend of mine to write the deal up.

How did you finance this deal?

Credit Union.

How did you add value to the deal?

I did not add value. I could do basic math it paid my mortgage.

What was the outcome?

Fine I have paid down a lot of the loan and I have great tenants.

Lessons learned? Challenges?

Small towns you can find deals that cash flow. FSBO works really well.

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

Ryan Visser in Williston. I recommend him