New Duplex purchase in Battle Creek MI

[Christopher Mikle]

Investment Info:

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

Purchase price: $155,000
Cash invested: $10,000

Side by side duplex, each side with a single stall garage in a very quiet neighborhood.

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

It fits the mold for our other investments, all side-by-side duplexes. Was attracted to the neighborhood and overall condition of this property.

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

It was an off market deal. The sellers are friends of the family. There wasn't much of a negotiation, as the price they wanted was reasonable and definitely worked with the analysis.

How did you finance this deal?

Partially conventional financing @ 3.25% for 30 yr, with some of the down payment coming from our HELOC.

[Drew Brown]

@Christopher Mikle congrats on the deal. Let me know if you ever have any property management questions!