Duplex in Lincoln, NE

[Jared Sveen]

Investment Info:

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

Purchase price: $250,000
Cash invested: $60,000

1031 duplex purchase in Lincoln, NE. Great all brick duplex with New roof and solid foundation.

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

Had some 1031 money that needed to be placed.

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

Off market property owner that has been interested in selling it. Didn't negotiate on price but did on the terms of the seller financing that was part of the deal.

How did you finance this deal?

Seller financed with down payment coming from 1031 money

How did you add value to the deal?

Updated some of the interior items but not a lot of updates needed and goal isn't value add on this purchase but more of a long term hold for appreciation.

What was the outcome?

Cash flowing all brick duplex.

Lessons learned? Challenges?

Make sure to get the tenants phone numbers prior to closing. Had a bit of a snag with delivery of some items since the phone number provided was wrong.

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

Nope