All Forum Posts by: Jerryian Francois

Investment Info:

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

Purchase price: $415,000
Cash invested: $90,000

MY FIRST RENTAL PROPERTY !! BEAUTIFUL DUPLEX IN THE HEART OF MIAMI THIS PROPERTY IS SO UNIQUE IT HAS A AUD 1/1 ON THE SIDE THAT BRINGS IN AN EXTRA 1100 ! 2/1 THAT BRINGS IN 2100, AND A 1/1 THAT BRING IN 1600 ! I GOT THIS PROPERTY IN 2021 FOR 415,000 PUTTING 15% DOWN . IT IS NOW THE ENDING OF 2024 AND THIS SAME PROPERTY HAS GROWN 45% ITS HOME VALUE IS NOW 602,012 AS OF 12/27/2024 FROM SINCE I PURCHASED IT !! THATS OVER 200K IN EQUITY IN 3 YRS

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

ONE OF THE REASONS WHY I WAS INTERESTED IN THIS PROPERTY WAS I LITERALLY GREW UP AROUND THIS PARTICULAR NEIGHBORHOOD SO IT WAS A FULL CIRCLE MOMENT FOR ME BESIDE IT BEING A GREAT DEAL I WAS VERY FAMILIAR AND COMFORTABLE WITH THE AREA !.

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

I FOUND THIS DEAL THROUGH WORD OF MOUTH I WAS TELLING DIFFERENT PEOPLE IN MY CIRCLE I WAS READY TO BUY AND LONG BEHOLD A BUDDY OF MINES WHO IS A REALTOR PRESENTED ME THE DEAL AND LET ME MEET THE OWNER WE HAD A GREAT CONVERSATION AS HE TOURED THE PROPERTY WITH ME HE EXPLAINED HE HAD HIGHER OFFERS BUT BECAUSE HE SEE IM A YOUNG GUY DOING THE RIGHT THING HE REALLY WANTED TO SELL IT TO ME AND THE REST IS HISTORY !

How did you finance this deal?

SO I PUT DOWN 15 PERCENT ! FROM CASH I SAVED UP FROM FLIPPING HOUSES

How did you add value to the deal?

I FIXED THE ROOF AND CHANGED SOME DOORS THE PROPERTY WAS BROUGHT IN GOOD SHAPE !

 Hey thanks for the response and yes i am staying on the other side of a side by side duplex and would like to renovate my side and the other side !

HEY BIGGER POCKETS FAM HOPE ALL IS WELL SENDING LOVE AND PROSPERITY THIS HOLIDAY SEASON TO EVERYONE ! JUST HERE TO GIVE A QUICK RECAP OF MY 2024 SO I CAN SOMEDAY LOOK BACK AND LAUGH HOW THIS YEAR WAS A NIGHTMARE AND PRODUCTIVE ALL IN ONE LOL FUNNY ENOUGH THE YEAR STARTED ON A GREAT NOTE I WAS ABLE TO GET INTO MY FIRST FIX & FLIP  DEAL  WITH MY WIFE!! BEST DECISION I EVER DID WAS MAKE MY WIFE MY BUSINESS PARTNER THIS YEAR FELT LIKE NEW BEGINNINGS LEAVING A OLD PARTNERSHIP AND STARTING A NEW ONE LITTLE  DID WE KNOW THIS FLIP WOULD BE THE WORSE THING WE DID THIS YEAR TALK ABOUT A HOUSE THAT WOULDN'T STOP SPITTING OUT PROBLEMS FROM SQUATTERS BREAKING IN , FROM THE CITY CONSTANTLY GIVING VIOLATIONS, WE EVENTUALLY TOOK A LOSS OVER 50K OUCH!!  THAT EVENTUALLY SENT ME TO THE WORKFORCE ! I AM NOW USING MY 9-5 TO PAY OFF THE PRIVATE LENDER EVERY MONTH WE ARE SET BACK FINANCIALLY BUT THE future IS BRIGHT ! 

CURRENTLY OWN TWO DUPLEX , WE ARE HOUSE HACKING ONE OF OUR DUPLEX , WE HAVE OVER 300K IN EQUITY ! COMBINED FROM BOTH DUPLEX SO ITS ALL ABOUT PERSPECTIVE YES THIS YEAR WAS HARD AND HEART BREAKING BUT ITS ALL ABOUT THE RESPONSE AFTER GETTING KNOCKED DOWN ! 

EVEN THOUGH EVERYTHING WENT WRONG THIS YEAR IM STILL OPTIMISTIC MY CONFIDENCE ISNT WAVERED AND IM MORE DETERMINED TO REACH MY REAL ESTATE GOALS I SAY THIS TO SAY NEVER GIVE UP !!! NO MATTER HOW HARD OR DARK IT GET KEEP GOING !!  

HEY GUYS JUST WANTED TO KNOW IS IT POSSIBLE TO GET FUNDING FOR A LIVE IN FLIP IM CURRENTLY ONE SIDE AND WOULD LOVE TO REHAB THE WHOLE PROPERTY I GOT IN USING FHA ! CAN I USE A 203 TO FUND THE REHAB??

 Lol man it’s lonely out here in Miami on BiggerPockets !!  

 Thanks I sent over a friend request !