Updated over 2 years ago on . Most recent reply
2-Family Buy and Hold
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $98,000
Cash invested: $10,000
2-Family home. Both 3-bedroom units. 3rd investment property! Buy and hold strategy!
What made you interested in investing in this type of deal?
This home came up for sale up the street from where I live. When I saw it, I just had to have it as the location couldn't be more ideal!
How did you finance this deal?
Conventional 25% down loan. I brought in a business partner on this one to finance the deal 50/50. We plan to do more deals in the future soon!
How did you add value to the deal?
We put some money into the home, fixing it ourselves and with family help.
What was the outcome?
Success! We got it fixed up and rented out!
Lessons learned? Challenges?
Sometimes you run into more problems than you expect, so budget for a little more than you expect!
- Coty B Lunn
- [email protected]
- 607-481-5660
