New Buy & Hold SE Grand Rapids

[Patrice Boenzi]

Investment Info:

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

Purchase price: $107,000
Cash invested: $30,341

Purchased a duplex and asked for it to be vacant upon closing. We (my partners and I) will do some minor updates to get the property city certified. Once it is city certified, we will rent it out. This will be a great property with wonderful cash flow!

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

The potential for appreciation and cash flow.

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

My Realtor - as-is (as always).

How did you finance this deal?

Conventional financing

How did you add value to the deal?

We were able to give the previous owner the funds they needed and closed quickly.

Lessons learned? Challenges?

With each deal together our team is learning to run more smoothly, trust each others strengthens and move faster.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Realtor