Casi Cielo- Duplex/Towhhome

[Ramon Romero]

Investment Info:

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

Purchase price: $730,000
Cash invested: $77,000

Gorgeous Duplex with 4 bedrooms. Accommodates up to 12 guests. Phenomenal location! Property is a rental machine with yearly projections of $75k. Every guest has given their stay a 5-star review. Units can be rented out together or individually, giving flexibility during peak and off seasons. Completely refurbished, new HVAC installed 2022. Beautiful finishes including updated kitchens with granite counter tops, stainless appliances, vinyl plank and tile flooring and large balconies on both north and south sides. Decor recently updated and is being sold fully furnished and rent ready. Ample parking, storage, and separate laundry for each side. Almost 1000 sq ft deck in back with 4 picnic tables. Newly installed BBQ's. Just a 2 minute walk to the white sandy beaches of Gulf Shores. Direct beach access with a streetlight for safe crossing. Great location close to local attractions, restaurants and shops. Owner will share with buyer how to self manage the rental including all the processes, automation, etc.

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

Learning about househacking.

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

Watched it for a year on the MLS and waited for months before making the offer which coincided with W-2 work opportunities.

How did you finance this deal?

Used HELOC funding from Primary residence.

How did you add value to the deal?

Methodically eliminating every item on the inspection report starting with the safety hazards to cosmetic.

What was the outcome?

Will be experiementing with Mid Term Rental in the slow season and Short Term Rental in the high season.

Lessons learned? Challenges?

Patience and negotiation are important... reciprocity works, thanks Chriss Voss!

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

Candace PFab & Chuck!