2nd step. Single family converting into top/bottom duplex.

3 Replies

Investment Info:

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

Purchase price: $410,000
Cash invested: $96,000

6 bedroom 3 bath
split into 2/1 and 4/2 top and bottom duplex.

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

College town need.

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

Worked with local realtor.

How did you finance this deal?

HELOC on our personal home. Waiting to refinance our 1st rental to cash out to pay back our HELOC.

How did you add value to the deal?

converted a 1/2 bath to a 3/4
added kitchen and laundry downstairs.

What was the outcome?

Housing 11 college kids who need a place to live. The school does not have dorms.

Lessons learned? Challenges?

not going broke doing the renovations.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

agent Eric Burnett. Amazing man.

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