Purchased: August 2020
Location: Indianapolis, IN
Property Type: Duplex
Strategy: Buy and Hold
Repair Cost: $10K via closing credit
Financing: 75% LTV conventional
Loan Terms: 30-year fixed at 3.375%
First investment property purchased with the intent to build passive income and long-term wealth. Not an amazing deal but this transaction made me a real estate investor and opened the door for endless possibilities!
Very happy that I was able to negotiate $8K repair credit for a new roof and basement work; as well as take advantage of the low interest rate.
NOI $8,851 * Cashflow: $4,076 * Cash on Cash 12% * DSCR 1.85