First Duplex, easy deal

[Rick Casady]

Investment Info:

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

Purchase price: $148,500
Sale price: $215,000

I bought this, my first duplex with no Issues and had two great tenants always paid on time. I brought up rents but never to all the way to market rates because the tenants were so good. I structured the deal/loan so that it was a tax loss each year but I was actually was cash positive (less the depreciation).

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

At the time I real valued the ideas of have two tenants under one roof, and still really like side by side duplexes

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

Internet!, When searching I meet alot of listing agents, I picked an listing agent I felt was most "real", didnt act like an agent. Extremly smart, old, a real tell it like it is guy. He ended up being my mentor.

How did you finance this deal?

30 year

How did you add value to the deal?

didnt

What was the outcome?

Made money renting, and did very well selling it

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

When searching I meet alot of listing agents, I picked an listing agent I felt was most "real", didnt act like an agent. Extremly smart, old, a real tell it like it is guy. He ended up being my mentor.