Updated 3 months ago on . Most recent reply
Duplex- selling it after 13 years of ownership
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $20,000
Cash invested: $90,000
Sale price: $250,000
Duplex for sale in great South Side Slopes location. Updated throughout. Great rental income with immediate cash flow. Current leases through Oct 25 and Feb 26.
What made you interested in investing in this type of deal?
Duplexes are great for cash flow or a superior house hack for new investors.
How did you find this deal and how did you negotiate it?
Bought off the MLS as a foreclosure.
How did you add value to the deal?
Many many updates have been made over the years of ownership. Added off street parking!
Lessons learned? Challenges?
Looking to switch things up and want to invest in out of state. This property will cash flow for you immediately.
Most Popular Reply
- Qualified Intermediary for 1031 Exchanges
- St. Petersburg, FL
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@Jennifer A Foster, congrats on having such a healthy RE portfolio! That's awesome, you want to utilize all of the tax from the appreciation and do a 1031 exchange.
If you're looking to purchase a larger investment property, like you said, you could always add another investment property in your exchange and do what we call a consolidation exchange, where you sell multiple investment properties and purchase a larger investment property while deferring the tax and depreciation. The key to a consolidation exchange is managing and clustering the time frames of each sale.
- Dave Foster
