All Forum Posts by: Kyle Hoppman

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $265,000
Cash invested: $17,289

I purchased a small five-unit apartment on 8/26/22, with a land contract. The property was purchased well under market value. Currently, the property cashflows $520/month (that includes saving 15% for vacancy, capex, and repairs), which is a 19.2% CoC ROI. Coin operated laundry will most likely be added, as there is a laundry room in the basement and the tenants are only responsible for electricity.

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

I have a goal of purchasing at least one property per year.

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

This property was on the market for almost two years. Because of that, we were able to negotiate a land contract with only 10% down. The terms of the land contract are 10% down, interest rate of 5%, amortized over 30 years, with a balloon payment at five years.

How did you finance this deal?

The deal was financed by myself and my business partner.

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $265,000
Cash invested: $17,289

I purchased a small five-unit apartment on 8/26/22, with a land contract. The terms of the land contract are 10% down, interest rate of 5%, amortized over 30 years, with a balloon payment at five years. The property was purchased well under market value. Currently, the property cashflows $520/month (that includes saving 15% for vacancy, capex, and repairs), which is a 19.2% CoC ROI. Coin operated laundry will most likely be added, as there is a laundry room in the basement and the tenants are only responsible for electricity.

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

I have a goal of purchasing at least one property per year.

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

This property was on the market for almost two years. Because of that, we were able to negotiate a land contract with only 10% down.

How did you finance this deal?

The deal was financed by myself and my business partner.

Investment Info:

Single-family residence buy & hold investment in Mount Horeb.

Purchase price: $270,000
Cash invested: $4,115

Just closed on a 2 bed/ 3 bath half duplex in Mt Horeb, Wi which will be my primary home for the next year or two. I used a VA loan with 0% down and had to bring a total of $4,115 (ernest money, inspections, appraisal, etc.) to closing. By the time I move out and rent this property in approximately two years, I estimate I'll be able to charge about $2300/month. With this monthly rent and a total of 15% being taken out for cap ex, repairs, vacancy, I'll be cash flowing $197/month (57.4 COC ROI).

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

I was living in an apartment while owning two duplexes. I figured it was time to find a place to call my primary home for awhile.

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

Zillow. I negotiated with my realtor.

How did you finance this deal?

VA Loan

Investment Info:

Single-family residence buy & hold investment in Mount Horeb.

Purchase price: $270,000
Cash invested: $4,115

Just closed on a 2 bed/ 3 bath half duplex in Mt Horeb, Wi which will be my primary home for the next year or two. I used a VA loan with 0% down, was able to negotiate for $10,000 less than asking, and had to bring a total of $4,115 (ernest money, inspections, appraisal, etc.) to closing. By the time I move out and rent this property in approximately two years, I estimate I'll be able to charge about $2300/month. With this monthly rent and a total of 15% being taken out for cap ex, repairs, vacancy, I'll be cash flowing $197/month. I know that may not seem high enough, but with only bringing just over $4,000 to closing, that is a 57.4% COC ROI, which I will happily take.

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

I was living in an apartment while owning two duplexes. I figured it was time to find a place to call my primary home for awhile.

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

Zillow. I negotiated with my realtor.

How did you finance this deal?

VA Loan

@Alex Olson thanks for the response! My agent was finally able to get ahold of the seller agent. Turns out, the seller agent meant to say that the buyer is not responsible for any fees…mess up on their part.

Hi all,

I'm in the process of putting an offer in on a duplex. However, the seller is doing a 1031 exchange on the property. The issue I'm having, is that the seller has it worded that they are "not responsible for any cost associated with the exchange." I don't know a lot about 1031's but can anyone offer any insight on what this would mean for me as the buyer if the seller is not responsible for any costs.

thanks in advance!

Now that I own two duplexes that’s are each doing well in terms of cash flow and ROR, I’ve been thinking that’d I’d like to bring an investor in on a new property.

I was wondering what people in this community have found to be the easiest/best way to go about finding an investor for real estate?

Thanks in advance to anyone who responds to this!

Hello everyone,

I am a new investor that owns two duplexes. I was wondering how everyone deals with their water softeners? Do you have tenants pay for and fill the water softener on their own? Do landlords buy the salt and drop it off and the property? How does everyone handle this?

Investment Info:

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

Purchase price: $89,500
Cash invested: $22,375

Purchased this duplex in Platteville, Wi with a 25% down payment. Bought the property for about $8,500 less than what the asking price was and the property appraised for $105,000. The estimated monthly cashflow is approximately $350 which is 17% cash on cash ROI.

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

My business partner and I didn't have a ton of cash sitting around for a 25% down payment. Between the two of us, and our realtor, we searched and toured properties for months until we found this one. This property was in our purchase price range that we could afford a 25% down payment.

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

This deal was found by our realtor. We negotiated the price several times before settling on a purchase price that was $1,500 more than our initial offer.

How did you finance this deal?

The down payment was financed between my business partner and I, as well as a Credit Union.