First Property Details

[Daniel Vikhtinski]

Investment Info:

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

Purchase price: $190,580
Cash invested: $27,000

Bought a duplex in great condition in an excellent location for 10% down that now cashflows at a 35% cash-on-cash return! All thanks to my real estate agent who did a little digging on the property to find out it was actually a duplex rather than the listed SFH.

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

I had been searching for a deal, any deal at all to help me get started in real estate. This just so happened to be the one that worked out!

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

My agent found it listed as a SFH and did a little bit of digging to find out it was actually a duplex! Won the property with an escalation clause.

How did you finance this deal?

Conventional 10%

What was the outcome?

I now cash flow $800 a month for a (roughly) 35% cash on cash return!

Lessons learned? Challenges?

I learned so much from my first deal I can't even list everything! No books can beat real-world experience!

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

Amy Gotvald with New American Funding is an excellent lender that I cannot recommend enough! As well as my agent (and now mentor) Paula Quinn at eXp Realty!