Updated over 2 years ago on .
- Real Estate Broker
- Western NC
- 7
- Votes |
- 12
- Posts
Brick Duplex Hickory NC
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $285,000
Cash invested: $71,250
2- 2bed 2bath duplex with Garage. All brick in prime rental market
What made you interested in investing in this type of deal?
Great deal that was overlooked
How did you find this deal and how did you negotiate it?
It had tenants and needed work. I had the tenants moved out and built in repairs into the deal. I bought this for 100 per sqft including all repairs and closing costs. This market sells for 180 per sqft. I doubled the rents as well.
How did you finance this deal?
Lending One 25% down
How did you add value to the deal?
new roof, clean crawlspace, got rid of leaves, increased rent, changed light fixtures and some appliances
What was the outcome?
Still hold over 100k return, cashflow 1500 per month
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Tyler Wilcox Realtor
- Tyler Wilcox