Purchased first duplex

[Dan Benton]

Investment Info:

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

Purchase price: $156,500
Cash invested: $8,500

2 bedroom 1 bath about 800 square feet each side.

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

Just looking to grow with each new purchase

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

For sale by owner. Came across while hustling delivering food for more investment cash.

How did you finance this deal?

FHA - owner occupied for one year plan

How did you add value to the deal?

We were preapproved and shared our goals with buyer. They were selling off after 30 years of investing

What was the outcome?

Great deal for both sides

Lessons learned? Challenges?

Had FHA already and did not realize can only have one. Was 2 weeks in when heard on bigger pockets podcast about fha restrictions

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

I have a realtor I have worked with for 20 years and always refer her