First Rental Property

[Evan Fogle]

Investment Info:

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

Purchase price: $135,000
Cash invested: $30,000

First rental property, duplex that needed slight rehab work 15k total. Fully rented within 2 months and cash-flowing $600 when fully rented.

How did you finance this deal?

Business loan

How did you add value to the deal?

Replaced the wiring
Fixed the roof and gutters

Lessons learned? Challenges?

Tenants, while paying rent on time, also are not paying the water bill on time.

[Jaycee Greene]

Quote from @Evan Fogle:

It is in Indianapolis, I bought it earlier this year and I used a credit union.

@Evan Fogle Nice! Did you work with Staci Rogers by any chance?