Chattanooga Duplex - Closed!

4 Replies

Investment Info:

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

Purchase price: $110,000
Cash invested: $33,852

Closed 09/23/2021- Tenant occupied duplex with each unit currently renting for $650/mo. Property does need renovations but most will not be completed until units are vacated. 16% CoC, Return on Equity 25%

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

First True Investment Property - wanted to get my feet wet

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

MLS / Agent

How did you finance this deal?

Conventional

Lessons learned? Challenges?

See my post in the STARTING FORUM....

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

Agent - Adrienne Green, Keller Williams
Lender - Gabe Whitmer, First Bank
Prop. Manager - Ashley Cross, Whitewater Property Management
REI Concierge - Coaching / Mentorship, Networking
Active Duty Passive Income - Education, Mastermind, Motivation

Congratulations @Wesley Thompson ! I purchased my first investment property from overseas as well at the beginning of this year and really identify with the challenges around getting closing docs mailed back and forth, finding a notary, etc. Way to persevere and get it done! I'm looking forward to seeing how this first property goes as I'm looking for something similar in that area. 

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