Duplex purchase near the bay area of CA.

[Eric Ketelsen]

Investment Info:

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

Purchase price: $418,000
Cash invested: $50,000

I purchased a duplex rehab'd it with my team and rented it out. It now cash flows $500 a month. I'm looking for another deal.

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

Working on establishing Assets that kick out cash flow. It's simple, fun and a great way to have wealth work for me/you.

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

I'm a real estate agent.

How did you finance this deal?

FHA 3% down. I used to be a loan office. We structured it so my wife purchased the home.

How did you add value to the deal?

a complete rehab. I love woodworking and worked on the fun stuff while My team rehab'd everything else. That being said, I did a lot more than most and more than my team. I live in it while I worked on it. Owner Occupied loan. Eventually I'll place it in a LLC once I get a few more.

What was the outcome?

A dump when I purchased it and now it's a gem and everything is replaced for a no hassle rental.

Lessons learned? Challenges?

Don't do everything yourself. Outsource and get help.

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

ME!

[Greg Foley]

@Eric Ketelsen Nice work! I’m starting out in rental investing, and would love to hear your perspective on where the opportunities are in the NorCal/Bay Area.

We used to live in Tucson, AZ, and decided to make our first investment there earlier this month. However, I would like to keep my investments closer to where I live (Napa).

Congratulations!