Closed on 2nd & 3rd duplexes!!
I spent the majority of last year learing and listening to podcasts here on BP. I came into 2016 with the goal of purchasing 5 properties and really begining to grow my business. I took the leap and purchased my first duplex in January which I posted about earlier this year. I was so pumped I imediately began my search for the next property. I found an agent that had a good understanding of what I was looking for and she found a seller looking to unload both of his properties locatedon the same block. A quick look at the numbers...final accpeted offer was 224,600 total for both and each unit rents for 700 brining the total cash flow to $2800 gross. I used the BP calculator to run numbers and I new I was looking at about 10% Cap which is good in my area. The biggest plus is they are all rented with long term tenants and have been updated. Very low maint. and located in great a neighborhood close to the base. All in all another great experience and I am on to my next property!!