MY FIRST DUPLEx purchased in (2021) 3.6% rate

[Jerryian Francois]

Investment Info:

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

Purchase price: $415,000
Cash invested: $90,000

MY FIRST RENTAL PROPERTY !! BEAUTIFUL DUPLEX IN THE HEART OF MIAMI THIS PROPERTY IS SO UNIQUE IT HAS A AUD 1/1 ON THE SIDE THAT BRINGS IN AN EXTRA 1100 ! 2/1 THAT BRINGS IN 2100, AND A 1/1 THAT BRING IN 1600 ! I GOT THIS PROPERTY IN 2021 FOR 415,000 PUTTING 15% DOWN . IT IS NOW THE ENDING OF 2024 AND THIS SAME PROPERTY HAS GROWN 45% ITS HOME VALUE IS NOW 602,012 AS OF 12/27/2024 FROM SINCE I PURCHASED IT !! THATS OVER 200K IN EQUITY IN 3 YRS

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

ONE OF THE REASONS WHY I WAS INTERESTED IN THIS PROPERTY WAS I LITERALLY GREW UP AROUND THIS PARTICULAR NEIGHBORHOOD SO IT WAS A FULL CIRCLE MOMENT FOR ME BESIDE IT BEING A GREAT DEAL I WAS VERY FAMILIAR AND COMFORTABLE WITH THE AREA !.

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

I FOUND THIS DEAL THROUGH WORD OF MOUTH I WAS TELLING DIFFERENT PEOPLE IN MY CIRCLE I WAS READY TO BUY AND LONG BEHOLD A BUDDY OF MINES WHO IS A REALTOR PRESENTED ME THE DEAL AND LET ME MEET THE OWNER WE HAD A GREAT CONVERSATION AS HE TOURED THE PROPERTY WITH ME HE EXPLAINED HE HAD HIGHER OFFERS BUT BECAUSE HE SEE IM A YOUNG GUY DOING THE RIGHT THING HE REALLY WANTED TO SELL IT TO ME AND THE REST IS HISTORY !

How did you finance this deal?

SO I PUT DOWN 15 PERCENT ! FROM CASH I SAVED UP FROM FLIPPING HOUSES

How did you add value to the deal?

I FIXED THE ROOF AND CHANGED SOME DOORS THE PROPERTY WAS BROUGHT IN GOOD SHAPE !