Second Investment Property

[Mason Schreck]

Investment Info:

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

Purchase price: $323,650
Cash invested: $73,940

Half of a owner-occupied duplex.

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

We wanted an 'A' tier property in a great school district with appreciation upsides in a developing area.

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

Zillow

How did you finance this deal?

30 year fixed-rate mortgage

Lease will be signed next week yielding a cashflow of ~$570/mo.

[Mason Schreck]

Sure Jason,

These are "year one" numbers. Property taxes will not begin on this property until 9/2024. So for the next year the payment is about ~$400/mo. less and rent is set at $2000/mo.

After property taxes begin at this point we will break even, and around that time look to move out of our half of the duplex (after finishing the basement to force equity) and either hold the duplex to appreciate, and perhaps throw off a little bit of cash, or flip this side to an STR.