My first rental property

[Erik Duke]

Investment Info:

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

Purchase price: $200,000
Cash invested: $80,000

Duplex 2/1 & 1/1

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

It was my first rental and my father had rentals

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

Lived in one of the units and owner asked if I would like to buy it

How did you finance this deal?

VA backed loan

How did you add value to the deal?

I just lived there and became friends with owner and would do minor repairs to help them out

Lessons learned? Challenges?

Just did a big exterior upgrade and learned a lot about dealing with contractors and contracts

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No agent