Investing in multi-family to growth wealth.

[Isaed Espejel]

Investment Info:

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

Purchase price: $255,000
Cash invested: $20,000

A duplex that is a nice size 850 sqft each side.

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

I figure that there would be a chance of appreciation in the next 5yrs because of Microns plan to growth its company. It also cashflows a little which is difficult to find in the west side of Idaho.

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

I found it on the MLS and used a realtor. We negotiated a 10k deduction from the purchase price for repairs.

How did you finance this deal?

I used the appreciation of my primary home to finance the deal by getting a cash-out refinance.

How did you add value to the deal?

Added a mini-split system for heating and cooling.

What was the outcome?

Two happy tenants helping us build some equity.

Lessons learned? Challenges?

In the future I can cash-out refinance this property to acquire my next investment as long as we keep in mind to not over leverage.