Duplex in Newport Beach

[Pierceson York]

Investment Info:

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

Purchase price: $1,900,000
Cash invested: $100,000

Duplex on the beach in Newport Beach

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

It's prime Real Estate

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

Off Market Deal, a realtor friend brought to us.

How did you finance this deal?

We got a conventional loan and raised a couple hundred thousand for the down payment on soft money.

How did you add value to the deal?

We put about $100k into the deal to fix it up.

What was the outcome?

We've been doing vacation rentals and traveling nurses which has been working out very well.

Lessons learned? Challenges?

Pick great partners

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

Yes. I have a whole team of top-notch professionals in all areas of the financial and investing world