We all start somewhere, and this is it for me! Enter my first investment - a 100 year old multifamily home with four 1br/1ba units rented out for about half of market value at the time of purchase. This used to be a 3,100 sqft farm house that a previous owner converted into a quad.

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The process wasn't easy...3 of 4 tenants had to be evicted, I ran into my first issue with a city complaint, I did a lot of work myself, and I went way over budget. Eventually we got rents up, refinanced the property to pull out about half of the capital I'd put into it, and it started performing!

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As the 2021 real estate market around the Charlotte area got more competitive, there was an opportunity to sell that couldn't be passed up. When I looked at my ROE and not just ROI (I wrote an article about this concept when I sold Bank St) it was a no brainer.

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The deal sold for $400,000, and I did my first 1031 exchange with the proceeds to purchase the Hubbard Duplex!