My first investment property

[Jonathan Krauser]

Investment Info:

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

Purchase price: $150,000
Cash invested: $30,000

This is a duplex located within walking distance of the ocean in Satellite Beach. Each side is 2/1 with a fenced-in backyard. It has terrazzo floors that I had refinished in 2013.

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

Back in 2013, each side was renting out for $900. At a purchase price of $150,000, it produced significant cash flow. That was the extent of my financial analysis back then.

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

At that time, I was a full-time Realtor and listed the property. After one of the contracts fell through, I decided to purchase the property.

How did you finance this deal?

Conventional loan with 20% down.

How did you add value to the deal?

At that time I purchased "as is".

Lessons learned? Challenges?

I wish I purchased more of these duplexes.