Small multi-family (2-4 units) buy & hold investment in Federal Way.
Purchase price: $500,000
Cash invested: $130,000
Long term buy and hold duplex in growing location
What made you interested in investing in this type of deal?
Location, cash flow potential
How did you add value to the deal?
the usual re-painting and cleaning up the unit. added new appliances
instead of dealing with lawn maintenance, we covered lawn with gravel.
Lessons learned? Challenges?
Always visit the property in person before submitting the offer
Can you share what you are renting each unit at? I’m curious how you’re managing to cash flow with a 500k duplex.
Congrats Thomas! Keep doing what you're doing. Sounds like a great income property. I hope it makes you a lot of money. Best of luck!
$1600 + $1490 (inherited tenant) = $3090.
I put 25% down on the property with 4% interest which brings monthly mortgage ~$2300 after vacancy, cap ex, maintenance i guess i can calculate $400 ~$500 per month cash flow
thank you Jim!
This one sounds great!
@Thomas Myung , thanks for the numbers. We recently purchased a small condo on the coast that we are using for long term rental. I’d like to get into multi family here in town but following the 1% rule it’s difficult to find anything.
@Jeremy Benson yea it's really difficult to find properties that meet 1% rule in this area. I guess what matter is investor's risk tolerance.
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