First Investment Property purchased in Battle Creek MI

[Christopher Mikle]

Investment Info:

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

Purchase price: $62,080
Cash invested: $870

2 bed, 1 bath Duplex in Lakeview.

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

Bought it from another investor who was looking to down-size.

How did you finance this deal?

Fully financed by a HELOC. Currently (Apr. 2020) going through a cash-out refi

How did you add value to the deal?

Increased rents

Lessons learned? Challenges?

Really learned a lot about analyzing properties AFTER this process. I had a rudimentary process, but have really refined that, taking what I learned with this first property and adding a lot more detail to my analysis.