Updated almost 7 years ago on . Most recent reply
My First Property Purchase
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Lima.
Purchase price: $59,900
Cash invested: $13,000
I bought this duplex as my first investment property, and I bought it back at the end of March. I lucked out that both sides were rented by good, long-term tenants already. It has really made the transition into becoming a landlord much easier, and it also helped that I was able to receive about $520 bucks a month after all expenses were paid. Overall, I am very happy with my first purchase, and I am very excited for my next one.
What made you interested in investing in this type of deal?
I was originally looking to find a duplex to house hack, and that’s how I ended up stumbling upon this house. As I started getting serious about running the numbers, I realized that it made for sense for me to buy it and keep it as a rental. I was putting more in my pocket by continuing to rent where I live, when compared to moving into one side of the duplex. It was for that reason that I went ahead and purchased it.
