Updated almost 3 years ago on . Most recent reply
High cash flow duplex
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $60,000
Cash invested: $9,000
Duplex purchase,low cash investment, high cash flow
What made you interested in investing in this type of deal?
Low investment and a high return
How did you find this deal and how did you negotiate it?
On the MLS, list price was $74,999, I came in at $68k counter offer was $70K, I held at $68k and was later accepted, home inspection showed a few moderate issues, renegotiated to $60k and was accepted
How did you finance this deal?
Commercial real estate loan
How did you add value to the deal?
Rent bump and a few small fixes
What was the outcome?
Great producing property
Lessons learned? Challenges?
Continue to use inspections
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Myself