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Updated almost 6 years ago on .
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My first buy and hold Duplex in Saint Paul, MN
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Saint Paul.
Purchase price: $165,000
Cash invested: $45,000
Class C Property with lower than market rents, in good shape for age of place, tenants and previous owner took good care
What made you interested in investing in this type of deal?
Knew the area some and that this neighborhood was one of the better ones in the area
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