Duplex in Killeen, TX

[Jose L Martinez]

Investment Info:

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

Purchase price: $110,000
Cash invested: $5,000

House hack/Investment property near major military installation and colleges.

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

The advantages of small multi-family investment specially for a young (21yrs) beginner investor. I didn't really know what I was doing back then and was completely unaware of the great potentials. Luckily a good friend of mine who is a RE investor himself mentored me and helped me see the benefits of investing in this market and type of property.

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

A friend referred me to his Realtor which had a nice pool of properties available to pick from.

How did you finance this deal?

VA

What was the outcome?

I still own the property which provides decent monthly cash flow . Managed by local property manager, the units have been occupied for almost the entire time I've own them with little to no issues from tenants.

Lessons learned? Challenges?

Biggest lessons learned so far has been the importance of managing my property manager. Property managers will do the bare minimum almost all the time, that is unless you as the owner demand better service. After all, I pay them 10% of the monthly rent so I will get my money's worth.