Our first investment property, duplex in TX.

[Garrett Bradshaw]

Investment Info:

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

Purchase price: $105,000
Cash invested: $26,000

purchased this duplex, with tenets in place. each unit is 625sq/ft. 1br/1ba.

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

we were looking to invest in a market close to home. we were looking at single family homes, and well as multifamily. we invested in this because the numbers worked.

How did you finance this deal?

conventional loan. 5/1 arm. 25% down. with the seller giving around 6000 in credits.

Lessons learned? Challenges?

so far we have learned that nothing is ever easy, and that even though problems will come up, we can always find a way to work around them. (the mortgage process was not a smooth one. first couple of banks we went to said one thing, and then by the time we got home they emailed saying that some of there information was wrong, and was actually going to be something else.)

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

Carman Hamilton at EXP reality was/is amazing. Our Lender( willie Sullens, Regions bank) we ended up with in the end was hardworking/competent/caring all the things you want.