First Rental Property

[Chauncy Gray]

Investment Info:

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

Purchase price: $365,000

Two Single Family Homes on the same lot (Detached Duplex) - 700 sqft ranch and approx 1100 sqft ranch. Roof replaced in 2017-2018. Brand new boiler installed 2018 in ranch. Brand new appliances in both homes. Occupying cottage and will rent ranch on long-term lease. Septic system and well water.

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

I got my education and I knew that duplexes tend to perform better overall compared to 3-unit and 4-unit investment properties.

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

I found this deal through a realtor and I negotiated based on a class I took on negotiations.

How did you finance this deal?

VA-backed Loan

How did you add value to the deal?

Nothing done to increase value upon purchase

What was the outcome?

I closed on time, did a property tour which I will be playing today!!

Lessons learned? Challenges?

I learned to ask as many questions as possible when I received the seller's disclosure