First Investment Opp. DUPLEX

[Christian Pena]

Investment Info:

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

Purchase price: $595,000
Cash invested: $43,500

Duplex in Hollywood FL

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

The opportunity to rent one side and live on the other for the first year doing an FHA Renovation Loan.

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

Found it through a local real estate agent in Miami. We offered full asking price AND if the property didn't appraised we offered up to $20k over appraise value.

How did you finance this deal?

Finance through a local finance company called iFinance Florida https://www.ifinanceflorida.com/

How did you add value to the deal?

By establishing rapport with the seller of the property and sending a letter expressing my sincere intentions on the purchase of the property.

What was the outcome?

I built a friendship with the seller. This helped in a smooth transition and communication path for being able to negotiate terms and dates.

Lessons learned? Challenges?

Be patience.

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

Financing - iFinance Florida - https://www.ifinanceflorida.com/
Real Estate Agent - Emilio Espino (IG-therealestate_detective)