2 family duplex house
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $430,000
Cash invested: $25,000
Large brick 2 family house
What made you interested in investing in this type of deal?
First home and wanted to start seeing where my money was going.
How did you find this deal and how did you negotiate it?
Realtor
How did you finance this deal?
Saving and did 203K renovation loan.
How did you add value to the deal?
Did a whole gut renovation with the $30,000 20k I took. Was introduced to this general contractor that did try real hard to work with me to stretch money to do the whole 3 level excluding the basement.
What was the outcome?
rented 1st floor to help offset the mortgage.
Lessons learned? Challenges?
Needed a little bit more money for nicer appliances. Contractors takes longer to do thing to extend their pay then do a rush job to finish up when demanded that.