Duplex are easy to buy
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $135,000
Cash invested: $27,000
purchased a duplex fully occupied in Houston TX. Needed little work and tenants were decent. straight forward purchase
What made you interested in investing in this type of deal?
Cash flow
How did you find this deal and how did you negotiate it?
Cold calling
How did you finance this deal?
conventional loan
How did you add value to the deal?
Better property mamagment and implemented systems. Also repaired a few issues
What was the outcome?
currently holding the property and is cash flowing
Lessons learned? Challenges?
better to get a property without tenants than with ones that were there before you bought it. the reason being that the old problems now become your problems
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
no but i am a realtor so i used my license to run comps and also draft contracts