First Investment property I purchased for my portfolio

1 Reply

Investment Info:

buy & hold investment.

Purchase price: $185,000
Cash invested: $45,870

First duplex purchased, ranch style with positive cash flow from the start- even during rehab.

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

I am a fan of multiple front doors, and I enjoy the rehab process.

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

Drove buy the property and saw they were auctioning the property off.

How did you finance this deal?

Conventional loan

How did you add value to the deal?

I upgraded the entire property (inside) modern finishes sell!!

What was the outcome?

Increased gross rent from $950 per month total to $2250 per month total.

Lessons learned? Challenges?

Buy more doors.

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

Yes!! DM me for his contact information.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you