First Duplex that solved a problem

[Nickalaus A Goodman]

Investment Info:

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

Purchase price: $85,000
Cash invested: $17,000

Solid Brick Duplex in a highly sought after neighborhood with a large percentage of rented property. Quite next to public parks in a downtown environment.

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

I needed a place to house a parent and this provided the perfect solution. Parent resides on one side and the other is rented to help supplement cost.

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

By having a strong real estate agent. I just told her want I needed and she made it happen. I went for full price and asked for conditions on the deal versus going with a lower price and paying for items on the back end. I got what I needed on the front end and rolled that into the loan.

How did you finance this deal?

Traditional Mortgage through local bank. Use equity in Primary Resident to cover down payment so no cash was exchanged

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

Yes I have the best agent but dont know if I can list the referral here or not