Smarter second investment in Granbury TX

[Joe Rivera]

Investment Info:

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

Purchase price: $356,000
Cash invested: $71,200

Class b, duplexes (2), 2 bedrooms, 2 bathrooms, garage, fenced in back yard,

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

The numbers worked, long term buy and hold opportunity.

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

Found on the mls

How did you finance this deal?

30 year loan

How did you add value to the deal?

No value added, raised rents to market value.

What was the outcome?

Two tenants left, they were replaced in a month.

Lessons learned? Challenges?

It is ok if tenants leave when you take over a property. If the rental market is strong, someone else will rent from you sooner than you think.