Updated almost 4 years ago on . Most recent reply
Carmichael (Sacramento) Duplex w/ a .92% RTP
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Carmichael.
Purchase price: $270,000
Cash invested: $67,500
Duplex in the city of Carmichael. 2/2 on each side, both sides have a 2 car garage. Sits on a corner lot, with a Starbucks and home depot down the street.
What made you interested in investing in this type of deal?
I love multi family properties because when one unit is vacant, you still have the other side covering the rent.
How did you find this deal and how did you negotiate it?
I found this deal on the MLS and I represented myself. Thinking back, I cannot remember what I negotiated as it was back in 2014, I negotiated a small concession, and has the seller pay for termite.
How did you finance this deal?
25% down conventional financing, investment property.
How did you add value to the deal?
Rehab has not occurred yet due to long term tenants however rents have been raised slowly. The market has increased nearly 2 fold since purchased.
Lessons learned? Challenges?
Looking back I would have brought in my own tenants and rehabbed after it was vacant. I would have did some creative financing if I know what I know now.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I represented myself in this transaction.