Small Multi Family

[Tim Maynard]

Investment Info:

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

Purchase price: $140,500
Cash invested: $21,500

This is a side by side duplex with each unit having an attached garage. It was previously an owner occupied unit, and they did a great job of making the owner(and larger) side look upgraded. This is our first property and completely made sense as it was in an area that we understood and our bank was able to offer us 85%LTV so we didn't need to deploy all of our capital.

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

This property hit almost all of the criteria that we were mainly looking for. Our target was 2-4 units that are NOT conversion-style type houses.

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

This was on the MLS.

How did you finance this deal?

We financed through our local bank. We brought 15% down and are on a 25 year commercial loan with 7 year fixed period.