First investment property - Duplex

[Jason Carroll]

Investment Info:

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

Purchase price: $86,000
Cash invested: $16,000

First real investment property.

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

Wanted to get started in real estate investing. Realtor friend found this property that already had one renter, which would cover the mortgage.

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

Realtor buddy was going to list it but called me first.

How did you finance this deal?

80% bank loan.

Lessons learned? Challenges?

Used a guy to manage the property. If going that route I recommend using a company that this is all they do as opposed to someone who does it as a side gig.