3rd property for the year, and 2 since joining BP

[Michael Voechting]

Investment Info:

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

Purchase price: $155,000
Cash invested: $40,000

A Side by Side duplex.

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

We already have a duplex in a city nearby, we were looking for another, but market there was pretty dried up, so we looked at a neighboring town. We found this property and it seemed to be a good deal.

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

Zillow, had our realtor do a video walk through for us.

How did you finance this deal?

25% down and mortgage

How did you add value to the deal?

After inspection we found a few items and the owner didn't want to fix so brought the price down.

Lessons learned? Challenges?

We got it for a good price, needing some small things we thought after the inspections. The property does need siding and are now waiting for a cost on that.

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

Our realtor does a good job in that area.