Duplex with lots of potential!
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $365,000
Cash invested: $91,250
We have this duplex under contract. It will rent for more once it is rehabbed (flooring, paint, carpet)!
What made you interested in investing in this type of deal?
This property is very close to our home office and in a great neighborhood. The price per square foot was irresistible!
How did you find this deal and how did you negotiate it?
Our principal broker decided to sell some of his rentals and gave us first choice. Priced at $153/ft
How did you finance this deal?
25% down, 7 year ARM loan
How did you add value to the deal?
We will be replacing floors, counters, and painting
What was the outcome?
We will have to keep you posted!
Lessons learned? Challenges?
Challenges include current tenants with a language barrier. Get back to you with lessons learned!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am a broker and work with lots of investors to buy and sell their properties, as well as providing the best available Property Management!
