First Investment Property

1 Reply

Investment Info:

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

Purchase price: $130,000
Cash invested: $160,000

A 4 bed/2 bath single family home that was once a duplex, the plan is to convert it back to a duplex and BRRRR. It is a professionally managed short sale and the process has been moving much quicker than expected. From the day we placed our offer to our projected closing day, about 3 month process.

How did you find this deal and how did you negotiate it?

MLS, made cash offer on asking price.

How did you finance this deal?

Personal cash.

How did you add value to the deal?

Rehab and conversion to a duplex.

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