In this video, Amanda and Patrick walk us through their duplex purchase. This was a property that was in the path of progress. They were able to win the deal because they acted quickly. What made this easier was their familiarity with the area, having bought a four-plex in the area recently.

This property posed some challenges, including a fire and some additional learning lessons with the sewer backing up. But the property still ended up being a great deal achieving a COC return of 17.5%!

While they could have kept this property and enjoyed the cashflow, they decided to use the lazy equity in the property to acquire a bigger/better propert (a lake house). Leveraging a great relationship with their lender, they were also able to buy this property without having to come out of pocket to buy the lake house. Of course, they used a 1031 exchange to defer taxes.

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