Small multi-family (2-4 units) buy & hold investment.
Purchase price: $109,000
Cash invested: $28,000
Sale price: $220,000
Duplex on with parking near the Highlands. Three bedroom unit on first floor. Large open concept unit on the second floor. Full basement.
What made you interested in investing in this type of deal?
The Price was right and it was in my target area
How did you find this deal and how did you negotiate it?
I met the newest owner at the property auction
How did you finance this deal?
traditional 20% residential loan
How did you add value to the deal?
New heating system, new roof and updating the flooring, paint, lighting and outlets.
What was the outcome?
I cashflowed for years and sold it at twice the purchase price
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I did work with an Agent, Lender, Home Inspector, Appraisor and electrician
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