1st home is an up/down duplex

[Adam Luepke]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Sloan Lake, Denver.

Purchase price: $839,000
Cash invested: $83,900

Bought an up/down duplex 4 blocks south of Sloan Lake. Living in top unit and renting out the bottom.

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

I really wanted to try finding a duplex that i could immediately rent out the lower half rather then buy a SFH and have a higher mortgage overall

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

Zillow

Lessons learned? Challenges?

I likely purchased this property too quickly as it was the 4th property we toured and we didn't negotiate on asking price as the house was previously under contract and my agent advised against lowering. The property isn't 'cash flowing' but our renters downstairs take $2,100 off our $5,700 mortgage so that comes down to my fiance and I paying $1,800 to live here. The house is previously flipped so upside is limited a bit. I think buying in a smaller market may have been better