Bessemer Ave Duplex- It started my investing career

1 Reply

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Greensboro.

Purchase price: $70,000
Cash invested: $14,000

Great Duplex Find. This was my first deal. 3/2 duplex on Bessemer Ave. Had to do about $2000 in upgrades, and inherited long term renters. this was a home run for my first deal.

What made you interested in investing in this type of deal?

This was my first deal! i bought it from the owner who had bought it through foreclosure a few years earlier. He was looking to move to new investments. I purchased it, and received 2 long term renters in the process.

How did you finance this deal?

traditional mortgage

How did you add value to the deal?

In one side i had to put in new carpet and paint. This was not as expensive as I thought. I have had little problems with this duplex.

What was the outcome?

The value estimate for this duplex in now over $105000. it continues to have a cap rate of 12%.

Lessons learned? Challenges?

START INVESTING!!!!

Great job on bagging this great deal for yourself. Keep us updated us on what ends up happening to the property.

Keep crushing it! Good Luck!

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