Investment Info:
Small multi-family (2-4 units) buy & hold investment in Dyersburg.
Purchase price: $45,000
Cash invested: $3,000
Sale price: $45,000
Just bought this duplex last month.
What made you interested in investing in this type of deal?
ROI about 2%
How did you find this deal and how did you negotiate it?
Found it at MLS and yes I did negotiated. They were asking $54,000.00 and bought it for $45,000.00
How did you finance this deal?
I have 4 others rentals properties that had bees paid off so I got a line of credit and put one of my properties colateral
How did you add value to the deal?
Add new laminate floor to one of the duplex and divided one separate garage so can be use like extra utility room for both rentals.
What was the outcome?
To pay quick the loan to buy more rentals.
Lessons learned? Challenges?
Didn’t know about line of credit. All my last properties paid cash. I would like to learn how can i get loans to diversify and get more rentals quickly.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes I found the deal and my real state agent help me to close the deal.
