Updated over 2 years ago on .
Duplex near the university
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Elk Creek.
Purchase price: $165,000
Cash invested: $22,500
Bought this duplex as my first investment and house hacked it. One side is long term and the other side is Airbnb. Long term pays for mortgage and on avg monthly cash flow is $900
What made you interested in investing in this type of deal?
Close to the area where I live and work.
How did you find this deal and how did you negotiate it?
Found it on the MLS. It was actually under contract at the time but I waited and made a better offer.
How did you finance this deal?
Used a FHA loan to finance this.
How did you add value to the deal?
Complete remodel on the inside. New roof and HVAC.
Lessons learned? Challenges?
Tried to save a little money doing it ourselves and we wasted time. Definitely learned to hire help.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I represented myself on this deal.