First Investment Duplex

11 Replies

Investment Info:

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

Purchase price: $190,000
Cash invested: $5,000

I brought my first home after I got out the military as a way to gain financial freedom. I loved The process and I love The freedom it gives. I am eager to purchase my next.

@Sharise Scott Woot woot, congratulations on taking action! With so little cash invested, I'm sure the cash on cash return is pretty good. What sort of rents do you get for this property? Is it turnkey? Does it require work? I'd love to learn more about your deal and offer guidance in anyway I can. 

Originally posted by @Andrew Freed :

@Sharise Scott Woot woot, congratulations on taking action! With so little cash invested, I'm sure the cash on cash return is pretty good. What sort of rents do you get for this property? Is it turnkey? Does it require work? I'd love to learn more about your deal and offer guidance in anyway I can. 

Hello, 

I'm still getting use to this site so I apologize if this doesn't go to the right spot. I purchased my first home using my VA home loan. It did not require any work as it was a turn key property! The rental rates there are lower than average but they are long time tenants. I'd love some feed back on how to be competitive in this demanding market

 

Congratulations on taking the step towards Financial Freedom!! First deal is always special 

@Sharise Scott

Yes I have clients to do use the retail side for the first few investments. I have a client right now where his wife has five Loans and the husband has five loans. We’re having to do a portfolio for the 10 and one that they’re purchasing to add to the portfolio at the same time because their local bank credit union and other lending institutions around the country will not do that many properties on a portfolio. Most of them only want to do 3 to 5. Once we get to a certain amount of houses then it just goes to a number and the largest portfolio that we personally can do is $100 million.

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