Second small multi-family deal closed!

[Christopher Mikle]

Investment Info:

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

Purchase price: $79,000
Cash invested: $20,000

Side-by-side duplex in Battle Creek Michigan. Each unit has 4 br/ 2 ba and total rents are at $1,675/month. This property yields $630/mo in pure cash flow, after all expenses and future set-asides!

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

Found this deal on the MLS. Was listed for $85k and we agreed on $79k, with an additional $3k cash back to me at closing from the seller.

How did you finance this deal?

Conventional loan for 30 years @ 3.625%