Small multi-family (2-4 units) buy & hold investment in Jonesboro.
Purchase price: $155,000
Cash invested: $42,000
10 year old Duplex. Both units have 10 year HUD tenants. Worked 6 months to find a property with good numbers but worth the wait
What made you interested in investing in this type of deal?
I want to build a sizable rental income before I retire from contracting and like the value in this one.
How did you find this deal and how did you negotiate it?
My daughter is a new Real Estate agent and former property manager. I gave her the numbers and she found it for me. I negotiated the price from 179K to 155K.
How did you finance this deal?
30 yr. mortgage
How did you add value to the deal?
In negotiations. Made money in the buy
What was the outcome?
Great income property and only 10 years old
Lessons learned? Challenges?
Patience. Don’t fall in love with the project,, it’s about the numbers.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes. Ashlee Betts with Harpole & Associates
@Jeff Betts congratulations on this investment!
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