Multi-family buy and hold

[Jeffrey Paul Ferlo]

Investment Info:

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

Purchase price: $112,000
Cash invested: $140,000

Bought two duplexes close to my hometown.

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

This is where I am the most interested and easiest for me to work at.

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

From the area that I lived in. Worked with my cousin who is a real estate agent.

How did you finance this deal?

Had $17,000 left on home mortgage. Refinanced home to purchase the duplexes and cash out for repairs.

How did you add value to the deal?

Seller added new roof on one of the duplexes.

Lessons learned? Challenges?

Learned a lot about maintenance issues. Need to see the property before I buy it. Understand the process more.

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

Real estate agent-Nichole Hamblin
Property Manager-Randy Bennefeld