First Duplex in 2004

[Toby Prudhomme]

Investment Info:

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

Purchase price: $127,500
Cash invested: $6,500
Sale price: $175,000

Purchased a duplex and lived in one side for two years. Rented it for 14 years and then switched to STR for the last two years.

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

I wanted to invest in real estate instead of the stock market at the time and realized that land is finite near a growing military installation.

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

Driving around the neighborhood

How did you finance this deal?

Put 3% down and moved into the property

How did you add value to the deal?

It was new construction

What was the outcome?

Cashed out at $30K

Lessons learned? Challenges?

Real estate is a great investment.