New Triplex to the Portfolio

[Derek Wilke]

Investment Info:

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

Purchase price: $210,000
Cash invested: $35,000

Triplex 3- 1bed 1 bath
Completely Renovated
Shared Utilities

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

We own one other Triplex that Cashflows really well, but it is a fixer upper.
This property has been flipped, and rent exceeded the one percent rule. I wish there were a hundred of these on the market. I would buy them all.

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

Called a realtor about a different multi-family home. She had that one under contract but wanted to make sure that w saw this one.

How did you finance this deal?

20% down, Financed the rest for 20 years @7.45%