First Deal - Duplex!

[Maurice Blackledge]

Investment Info:

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

Purchase price: $64,000
Cash invested: $16,000

Duplex located in Kokomo Indiana.

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

Great numbers, growing market in a great location, motivated seller.

How did you finance this deal?

Conventional financing but put 25% down. My next deal will be a BRRRR so I can pull money out of the deal but I was more so seeking cash flow at this point.

How did you add value to the deal?

No value-added or forced appreciation but purchased below market value.

What was the outcome?

Closed on the house as planned!

Lessons learned? Challenges?

Secure funding, do your due diligence upfront in terms of inspection. Ask plenty of questions and understand how your property management company handles tenant issues (if applicable).

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

Yes, I worked with an agent who also happened to be a teammate of mine in college!