Investment Info:

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

Purchase price: $339,900
Cash invested: $140,000

Duplex in Fayetteville NC, bought fully furnished with PM in place operating as a MTR conveniently located near large hospital

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

I was looking for a small multifamily that I could learn from and initially seller financing was offered

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

I found it on market after looking for properties that had been on market for over 45 days and I used the lisitng agent for dual representation (lesson learned!)

How did you finance this deal?

Conventional mortgage

How did you add value to the deal?

Non needed, fully updated and furnished

What was the outcome?

Property cashflow 1-4k/mo dependong occupancy but the PM was an absolute nightare and it took a long time to get out of the contract

Lessons learned? Challenges?

Less trusting when using dual agency, the agent leveraged the opportunity and promised things without including the seller that pushed the deal along but never transpired. I wouldn't say I regret the deal but definitely have learned a lot.

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

I used rocket mortgage from the lender for the first time, the company overall I wouldn't recommend but my actual officer did a great job fighting with them