Finally purchased our first duplex in Stillwater, OK

[Amber Dilbeck]

Investment Info:

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

Purchase price: $250,000
Cash invested: $18,000

After years of learning and research-analysis paralysis is very real...We Just purchased our FIRST duplex! We are beyond excited. This was an off market deal obtained through yellow letter writing (learned from this group-thanks!) We were able to obtain favorable financing through house hacking and locking in our interest rate. Stillwater is an excellent buy and hold market. We have the bug now and are looking forward to our next deal!

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

Research done via this site/books

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

I found this deal through yellow letter writing, a skill learned from this group. Negotiation was fairly easy as I know this market very well and felt confident in the numbers that were presented. I'm a research analyst by trade; this is a skill I've developed over the years and the only portion of the process I felt confident with in this first deal. I new feel more confident in other skills after this first one.

How did you finance this deal?

We financed through an FHA loan and are house hacking.

Lessons learned? Challenges?

About mid-way through the deal the seller had changed his mind on selling. I had to quickly learn to recover the deal. The lesson here is...sometimes practice is the best way to learn.