First rental property

[Levi Burgin]

Investment Info:

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

Purchase price: $180,000
Cash invested: $7,900

Duplex just needing simple cosmetics.

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

Local to my primary residence.

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

MLS, 20k below asking.

How did you finance this deal?

30 year fixed

How did you add value to the deal?

Lower purchase price.

What was the outcome?

Small start to portfolio.

Lessons learned? Challenges?

Inheriting tenants is a challange.

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

Real estate agent, Tim Pigg.