First buy and hold purchase, Saint Paul, MN Duplex

[Ben Beaudoin]

Investment Info:

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

Purchase price: $165,000
Cash invested: $45,000

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

Class C Property with lower than market rents, in good shape for older place

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

Realtor

How did you finance this deal?

Conventional Financing

How did you add value to the deal?

Increased Rents, new washer and drier, tenants pay electric

What was the outcome?

Property cashflows $100+ per door

Lessons learned? Challenges?

Conventional financing can be a tedious process for the first time on an investment property