233 Marshall - My first deal

[Matthew M Spolsky]

Investment Info:

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

Purchase price: $175,000
Cash invested: $51,000

Duplex with rented garage

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

My realtor found it. I made an offer at full ask and then got the seller down to the price I wanted after an inspection.

How did you finance this deal?

Conventional with 25% down

How did you add value to the deal?

I was motivated to get the deal done because the numbers worked out at the price I wanted and at full ask. Tenants were in place so that saved some time. I also negotiate for a living so I knew what to expect.

What was the outcome?

I got the price I wanted with some repairs from the seller.

Lessons learned? Challenges?

Maybe should have excluded the garage rent and made the numbers work better.

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

Yes I would recommend Sarah Fitzpatrick. She has been great and knew what I wanted as an investor.