Updated over 2 years ago on .
Triplex - Buy and Hold
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $350,000
Triplex in the Phoenix area
What made you interested in investing in this type of deal?
Wanted to purchase a small multifamily, perform improvements, raise rents to market and have some cashflow - refinancing for a lower interest rate
How did you find this deal and how did you negotiate it?
Found online through Redfin
How did you finance this deal?
Hard Money
How did you add value to the deal?
Rehab unit interiors, paint and cleanup exteriors. Pest control treatment.
What was the outcome?
Rents are now at market and the property has added nearly $200,000 in equity
Lessons learned? Challenges?
Evictions happen, quality tenant screening is key