First Duplex Purchased - Cleveland Ohio

[Thomas McTier]

Investment Info:

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

Purchase price: $130,000
Cash invested: $32,500

Duplex
Purchase price: $130,000
Cash invested: $32,500
Monthly cashflow: $543
Cash on Cash ROI 19.45%
Off market deal purchased.

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

I was interested in the deal because of the location and the numbers made financial sense which met my criteria.

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

The deal was found by realtor, where we were looking at a property on the MLS and the seller had a another property off market that he was thinking about selling. I analyzed both properties and decided to make an offer and go with the off market property.

How did you finance this deal?

Deal was financed used conventional financing

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

I worked with a real estate agent, property manager and lender all to make this deal happen. Inbox and connect with me if you'd like further details.