Duplex in 5th Ward Houston

[Adam D Rinehart]

Investment Info:

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

Purchase price: $100,000
Cash invested: $21,000

Duplex with existing long term tenants in 5th Ward.

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

Location, existing cash flow, value add opportunity.

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

Bigger Pockets Marketplace. I messaged the seller and after a few phone calls and emails came to an agreement on purchase price and terms.

How did you finance this deal?

Seller financing. 20% down at 7.5% interest only payments for 5 years with balloon payment. No prepayment penalty.

How did you add value to the deal?

N/A.

What was the outcome?

So far so good.