Portales Duplex

The property was purchased in January of 2019 for $47K in cash. Eric partnered with a financier for this acquisition with the agreement that he owed 50% of the purchase price at a 2.5% interest only loan. This was his first true “investment” property. He started self-managing the asset and was able to stabilize the property and increase the rents to yield an incredible 28% cash-on-cash ROI in the first 12 months. During 2023, he completed a remodel of one side of the duplex to increase value and rental income.

When Eric received orders to relocate to a new base, he chose to hire a property manager. Unfortunately, he quickly, realized their inability to properly care for a property and ensure its ability to be as profitable as possible. Lessons learned from this property motivated him to partner with David and begin offering quality property management. With the move to internal management of the expanding portfolio, properties are now handled properly by those who care about the tenants and the properties.