Long term buy & hold

[Brandon Lee Turner]

Investment Info:

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

Purchase price: $274,000
Cash invested: $10,500

Single family was purchased with a USDA loan in 2013. We converted it into a rental and pulled out a HELOC to purchase this duplex with an FHA loan.

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

House hacking, adding a property to the portfolio.

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

I analyzed 100 deals, put an offer in on 10 and pulled the trigger on one. Turn key property that cash flows $850 per month if I do not live here.

How did you finance this deal?

FHA loan

How did you add value to the deal?

It was turn key.

What was the outcome?

We now pay in a total of $300 for a mortgage, lowering expenses.

Lessons learned? Challenges?

Don't move in January in New England. There wasn't much info on the property and a without a little digging I would not have recognized how great of a deal this was because there was very little information listed.

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

Dempsey real estate