Updated over 3 years ago on . Most recent reply
Duplex - Fix and Flip
Investment Info:
Small multi-family (2-4 units) fix & flip investment.
Purchase price: $180,704
Purchased duplex, fix and flip front unit and added additional bedroom. Plan to hold and refinance.
What made you interested in investing in this type of deal?
Purchase price was excellent for two units in Phoenix. Front unit needed full rehab
How did you find this deal and how did you negotiate it?
Found on Zillow
How did you finance this deal?
No financing. Purchased cash
How did you add value to the deal?
Full rehab of front unit. New floors, cabinets, electrical, water heater, insulation, drywall, and paint
What was the outcome?
Rehab is going well, plan to rent to new tenant at market rent
Lessons learned? Challenges?
Rehabbing takes longer than expected, plan accordingly and have reserves