First investment property

[Josephinne Wust]

Investment Info:

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

Purchase price: $220,000
Cash invested: $55,000

This is a Duplex located in an upcoming development area. It is an older house with a lot of charm and character.

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

With the interest rates this high single-family houses were out of the question for a first investment property.

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

Real state agent.

How did you finance this deal?

Traditional Mortgage.

Lessons learned? Challenges?

We need to learn how to negotiate and to not get out emotions involve in the deal. Let the numbers speak for themselves.