Updated over 1 year ago on . Most recent reply
Seeking tips on managing first property (duplex)
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $230,000
Cash invested: $46,000
About to close on my first Duplex and very excited. Going to try to self manage my first property and looking to lean as much as I can from those more experienced!
What made you interested in investing in this type of deal?
Have been wanting to build my real estate portfolio for years!
How did you find this deal and how did you negotiate it?
An agent friend had an investor who needed capital
How did you finance this deal?
25% down and conventional loan
How did you add value to the deal?
The previous owner rehabbed the property so other than turning over tenants nothing major needed so far (fingers crossed)
What was the outcome?
will update
Lessons learned? Challenges?
Going through the U&O process right now, it was helpful to get a copy of the previous inspection to better understand what they look for to be as prepared as possible