$215K down to $198 but all CASH!

[Jesse Flores]

Investment Info:

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

Purchase price: $198,000
Cash invested: $198,000
Sale price: $215,000

Duplex built in 2008. $215,000. Currently both units occupied at $750 a month.

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

Harlingen is growing and properties are going for sky high prices (for the area). I know in a few years I will be able to raise the rent the value of the duplex will have increased by at least 10 - 30 %. I'd say that is a nice return.

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

Rental agent.

How did you finance this deal?

All cash. No financing just yet but I will in a few years.

Lessons learned? Challenges?

Need to start looking for properties that are a value, upgrade them and then hold as rentals.