A duplex house that I bought it was my second property

[Ivan Palagniuk]

Investment Info:

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

Purchase price: $120,000
Cash invested: $24,000

Duplex

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

Was able to negotiate on the price
The property itself was in the decent shape ,didn’t have to put a lot of money for renovation

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

I found it on realtor.com

How did you finance this deal?

I reached out to a guy that my friend is working for ,he owns a lot of real estate and other businesses ,we did a land contract for 7 years at 5% interest rate

How did you add value to the deal?

We did some light interior touch ups,refinished the floors,painted walls,cabinets,put new light fixtures etc

Lessons learned? Challenges?

Short term loans are substantially decreasing the cash flow of property