Our First Property!!!

[Jared Freye]

Investment Info:

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

Purchase price: $51,900
Cash invested: $9,233

Contributors:
Eric Schmid

Full duplex close to local amenities, both units have two bedrooms and a full bathroom. Update includes many new insulated double hung windows. The wood floor on the main level has been refinished and looks awesome.

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

The lower purchase price means our capital stretches further. This also means almost all expenses are covered with just one tenant.

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

This deal was very cut and dry, we worked with our realtor for negotiation.

How did you finance this deal?

Personal capital.

Lessons learned? Challenges?

Separately metered utilities would cut down significantly on management overhead. I think in all deals moving forward we will strongly consider hiring a contractor to put in separate meters.