Updated over 4 years ago on . Most recent reply
How one property made me 100K
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Houston.
Purchase price: $35,000
Cash invested: $15,000
Duplex with 1 bed on each side.
What made you interested in investing in this type of deal?
Cashflow
How did you find this deal and how did you negotiate it?
bandit/yard sign marketing. Negotiated and won against 3 other investors
How did you finance this deal?
hard money
How did you add value to the deal?
Needed roof, plumbing, flooring, bathrooms, kitchen. One side converted into a 2bedroom unit.
What was the outcome?
Rented both sides then cash out refinanced. Currently i cashflow and property is worth double
Lessons learned? Challenges?
make sure you Run the numbers and if the numbers look good jump on it
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
i am a realtor