1st Duplex - Greatest decision I've made

[Chad Rocke]

Investment Info:

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

Purchase price: $187,000
Cash invested: $10,000

I purchased a duplex in Milwaukee and lived in one half and rented the other half. I moved out after one year and continue to rent both rents. I was cash flowing $200 and refinanced in 1/2021 and I am now cash flowing $350 per month. The property is now valued at 260K an increase of 73k.

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

Wanted to stop paying the mortgage for someone else and throwing my rent money down the drain. Makes so much sense, especially being single to buy a duplex or house hack and have someone else pay your mortgage not to mention property appreciation and tax benefits.

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

I used a real estate agent that was focused on helping investor focused people.

How did you finance this deal?

conventional 30 year mortgage with 5% down

What was the outcome?

Still own the property, receive $350 per month cash flow and increased property value from 187K to 260K.

[Chad Rocke]

@Chase Macherzak this was natural appreciation. this market has taken off the last 12 months, like many markets. I plan to hold and continue to rent out both units, having the tenants pay down principal and interest and continue gaining market appreciation. If need be could tap into a HELOC to buy my next rental property.