Investing in Multi-Family Properties

[Alan Trago]

Investment Info:

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

Being an electrician, most to all of the work on the properties has been done myself.

Currently I own (2) duplexes in the Miller Park Area.
Property #1, full gut on the upper unit, new everything, lived in it, moved on and its rented.

Property #2 purchased late last year,both units were occupied, fixed up both units after the tenants vacated. Raised the rents and now have the new tenants paying the water bill. Both properties have great monthly cash flow numbers, looking to build my real estate portfolio ASAP!!

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

House hacked the first duplex living in the upper unit and renting the lower.

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

MLS

How did you finance this deal?

Conventional Lending

How did you add value to the deal?

I demanded & received 25% off closing costs due to the mistakes that my loan officer made during the loan process. More stress at the time = more cash in my pocket!!

Lessons learned? Challenges?

Property #1: When writing up an offer purchase, be sure to include the current owner be responsible for the water charges thru the closing date. The first property was purchased in September so I was responsible with 9 months of unpaid water charges.

Property 2: Build a rapport with a great lender and loan officer.