Investment Info:

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

Purchase price: $235,000
Cash invested: $70,500

up down duplex w/ yard and balcony and attached garage and basement

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

Leveraging appreciation in 1st NJ investment and then using 1031 exchange to move equity into a duplex. We have enough funds to buy a second duplex.

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

Our awesome realtor, Shani Dixon, with Fox Roach/Berkshire Hathaway. She was the agent for the first property and also listing agent for the new property. She helped us negotiate a fair deal for both parties.

How did you finance this deal?

1031 exchange for downpayment, standard loan for the balance

How did you add value to the deal?

Not sure if I did much apart from due diligence via a walkthrough with my agent. We also paid for inspection and following all the rules (landlord registration, safety remediations, etc.)

What was the outcome?

We closed less than a month after selling the first property as part of the 1031 exchange.

Lessons learned? Challenges?

We have to consider the norms for the area. In Hamilton, there is landlord registration, certificate of occupancy, sewer/water bills, gardener - all paid by the landlord.

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

YES - Shani Dixon from Fox Roach/Berkshire Hathaway (Princeton Junction, NJ)