Duplex initial investment

[Jeffry Lee]

Investment Info:

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

Purchase price: $320,000
Cash invested: $105,000

I started with me first property investment. An agent brought a property that would pay for itself and had the potential to increase rents and make non major improvements to increase rents. This is a learning property for me, so we’ve learned about managing tenants, making the right improvements, selecting contractors and managing the process. I’m looking forward to making additional investments that will create a sustainable income.

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

Initial jump into understanding Real estate investing.

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

A realtor brought the deal to me.

How did you finance this deal?

Traditional financing

How did you add value to the deal?

Increased rents, renovated the inside and outside.

What was the outcome?

Value of property has gone up about $100k beyond the purchase price and cash flowing $700/mo

Lessons learned? Challenges?

Move to increase rents and do the upgrades earlier, don’t wait 18 months.