CLE Duplex Reno - from zero to hero

[Brittanie Zitello]

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $80,000
Cash invested: $120,000
Sale price: $293,000

Down to the studs remodel. Electrical, plumbing, you name it we did it! We proved everyone wrong who told us not to put that much money into this zip code. Turned a mistreated duplex into two luxury units currently being used as popular Airbnb by the new buyer!

What made you interested in investing in this type of deal?

Great partnership, great price, beautiful space to design creatively

How did you find this deal and how did you negotiate it?

off-market realtor connection

How did you finance this deal?

cash

How did you add value to the deal?

finished the attic adding a bedroom and 800 sq feet
converted a formal living room to a bedroom. making a 4 bedroom a 6 bedroom.

made modern updates like walk in closets, open concept kitchens and in suite laundry

What was the outcome?

about 80k in profit

Lessons learned? Challenges?

When next door did half as much as us on their flip and they made the same profit, we realized we don't have to get the top comps to make good money, we could have finished faster and moved on to the next one. Though, we were very proud of the end result.