3rd purchase for portfolio
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $160,000
Cash invested: $40,000
2/1 and 2/2 Duplex
What made you interested in investing in this type of deal?
I'm looking for cash flowing properties after expenses I would like $900+ a month of cash flow to reinvest and add into capital expenditure account for my portfolio and to repay my life insurance loan.
How did you find this deal and how did you negotiate it?
Redfin and this time I found an agent in town that was a great communicator and very helpful in providing information that was accurate and timely.
How did you finance this deal?
I financed this loan and brought my down payment in from my life insurance policy.
How did you add value to the deal?
No additional adds at this time. Will update once one of the tenants moves at the end of the year as they are being discharged from the military.
What was the outcome?
N/A
Lessons learned? Challenges?
I would like to have more upfront conversations with the tenants so I know where I can come in and bring value to their homes. The more peace of mind they have living somewhere that is something that isn't falling around them the better my dealings are with them.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I would definitely recommend Joslyn Wood with KW, she was amazing.