First Property Success - Bay View Duplex

[Nick Domach]

Investment Info:

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

Duplex two blocks from the lake in Bay View

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

Wanted to purchase a duplex as a jumping off point into real estate investing. Have been renting one half and living in the other.

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

Found property through the MLS listings and contacted realtor regarding it, waited on making an offer until the listing cooled off and was able to close on the property for a substantial discount due to seller needing to get our of property.

How did you finance this deal?

Broker

How did you add value to the deal?

Negotiated garage renovation as part of closing (included roof, soffit, facia and gutters)

What was the outcome?

Closed on property and have been in it for 6 months now

Lessons learned? Challenges?

My wife and I missed out on a few other properties we made an offer on, but they were a blessing in disguise as we are extremely happy with the deal we negotiated and the property itself. Don't be too hasty, do your research and don't fall in love with properties, that's when you get hurt.

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

Jim Snyder - Inlanta Mortgage