DUPLEX INVESTMENT PROPERTY.

[Tyler Cotter]

Investment Info:

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

Purchase price: $70,000
Cash invested: $21,233

Duplex, side by side each 2/1, 700 SQFT

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

Previous purchases in the market. Price to Rent

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

My agent found this deal. Typically wouldn't invest in this Zip code, but PTR looked good and it was a well cared for duplex. Negotiated several times during inspection period.

How did you finance this deal?

conventional financing with 20% down.

How did you add value to the deal?

several small things that needed to be cared for.

What was the outcome?

appraisal came back around 10% above asking.

Lessons learned? Challenges?

I inherited long term tenants. I ran the numbers at what I believed the expected property rent was for the residential condition. However, with the proper advice from my PM, I kept the tenants at well below market rent in order to keep. I believe this was the proper decision as I will likely not have to go through renovations, and it still cashflows.

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

Dave Poepplemeier and LAPLANTE as my PM. This team knows the market, and gives the advice you need to hear, although it may not be what you WANT to hear. Honesty is key for me. Ultimately, very happy with the little team built.