Duplex Purchase using OPM

[Kyle Jeppesen]

Investment Info:

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

Purchase price: $220,000
Cash invested: $44,000

Purchased property from an investor from the BP community. I used credit cards to finance the DP and used a hard money lender to finance a 30 year loan.

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

Purchase price was $220k and the property appraised at 260k.

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

A BP member posted that he was looking to 1031 exchange this property into something bigger.

How did you finance this deal?

80% Hard Money on a 30 year loan
20% DP using credit cards