You may have noticed that I am in the middle of redesigning the website. As part of that you will find new sections and menus. One of the things I plan on doing is talking more and more about real estate. As part of that I am going to post all of my real estate projects and investments. The first of these is the
"Triplex Project."
Description: We purchased this property in 2010 as our first investment. The goal was cashflow. It originally was a duplex, but in the 1970's someone finished the basement and turned it into a tri-plex (ie three apartments). It will cashflow a lot better after we move out and rent the third apartment. We have put about$10,000 into it including down payment, repairs and updates. We've already gotten that back.
Purchase Price: $156,000
Closing Costs & Down $8,000
Gross Rents: $1,925/mo
Payment: $1,050/mo
Maintenance and Utilites: $200/mo
Cashflow: $675/mo
If you have any questions on this project at all, please comment below.
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