Duplex in Buckhead Creates Cash Flow

[Benjamin Arritt]

Investment Info:

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

Purchase price: $450,000
Cash invested: $120,000

Duplex originally purchased by my wife just prior to us getting married.

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

This was my wife's deal.

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

Got married.

How did you finance this deal?

Got married. Paid off her second mortgage.

How did you add value to the deal?

Termites. Water damage. Insurance claims. Lot of rehab and headaches.

What was the outcome?

We actually have cash flow on this one.

Lessons learned? Challenges?

Buy when the market is down.

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

My wife is one of the top real estate agents at Sotheby's (Atlanta Fine Homes) here in Atlanta: Amanda Nichols. Together with her business partner they do about 25 million annually.