REAL DEAL: Duplex Dreams and Family Partnerships

Welcome back to the Real Estate Investing School! In today's episode, we dive into the fascinating journey of Tyler Miller and his real deal. Tyler had a dream of investing in a duplex, but faced the challenge of not having enough money to make it happen. He contemplated partnering with someone to maximize the investment's profitability. Asking his own father to join forces, Tyler proposed an arrangement where his father would provide the down payment and loan, while Tyler would cover the furnishings and split profits equally. In an effort to sweeten the deal, Tyler mentioned cost segregation and bonus depreciation from year one. 

As Tyler and his wife explored two real estate strategies - midterm rentals out of state and income strategies in Utah - they reached out to experts like Sarah Weaver to gather valuable insights. Keen on finding the perfect property manager, buyer's agent, designer, and furnishing team, they found a real estate agent named Mindy Templeton in Kansas City, who proved to be an invaluable asset. Within just weeks, Tyler and the team successfully found a "for sale by owner" deal and secured it with an offer. 

Throughout this episode, Tyler shares his eye-opening experiences and the lessons he learned along the way. From the power of utilizing midterm rentals to the benefits of furnishing with 0% interest cards, Tyler unveils how optimizing cash flow can lead to recovering all the upfront investment within the first year. We also explore the concept of seller credits and the intricate process of negotiating repairs.

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