Selling my first, has Duplex paid off

[Vernon Watts]

Investment Info:

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

Purchase price: $385,000
Cash invested: $500

Duplex 4 bed, 4 bath, one car garage for both units, covered parking, near popular eateries, great schools and churches near by. Not far from Down Town Dallas entertainment ventures. SOLD for 4
$426k purchased for $385k

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

I lived here, Yahweh just made it so that this property fell in my hands, so I sold it in thirty days.

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

I didn't have to find this one it was given to me by the owner who knew that, I am a real estate wholesaler.

How did you finance this deal?

It was all done on a contractual agreement. No finance

How did you add value to the deal?

The owner did all the painting and the carpeting and light cosmetics work.

What was the outcome?

I targeted Investors and rehab fix & flip buyers and found a investors that just loved the property so much and bought it.

Lessons learned? Challenges?

Never underestimate your ability to negotiate deals.

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

No