Great Duplex in Bakersfield INVESTMENT - message for more info!

[Michael Cox]

Investment Info:

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

Purchase price: $147,500
Cash invested: $54,000

I bought this small duplex with my business partner.

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

The interesting part of this deal was the cash flow. Right out of the gate after COE, we got it rented and were generating about a 14%
ROI. We spent some money on fixing stairs and getting all the weeds killed off. The tenants have been great and for our first deal it was a true blessing.

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

I found this property through my friend who is an agent that I am now working under as agent myself. We negotiated the price down after appraisal and saved approx. $10k on the deal.

How did you finance this deal?

We financed this deal with a conventional loan. 25% down with about 4.25% interest rate.

How did you add value to the deal?

We added value to this deal by simply getting renters into the units.

What was the outcome?

The outcome as of today, when writing this, is we are in escrow selling the property currently. We will make approx. 110% of our original investment back after COE.