1st purchase, duplex

[Brian Bangs]

Investment Info:

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

Purchase price: $145,000

Duplex. Each side 3 bed, 1.5 bath.

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

It was my first intentional property/rental investment. As my first deal it was turn-key and had established renters. It was a safe start.

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

Through real estate agent.

How did you finance this deal?

Cash

How did you add value to the deal?

Was able to negotiate price per sq/ft lower than average for market.

Lessons learned? Challenges?

For my first deal I was ok with the outcome. Since this purchase I have been strategic with location and price per sq/ft.

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

Yes! I found a great agent in Lansing who owns many rentals of his own, is a native of the market, is young and responsive!