Updated 8 months ago on . Most recent reply
My start in rental properties: Southside duplex.
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $135,000
Cash invested: $10,000
Duplex, that needs a little updating and TLC.
What made you interested in investing in this type of deal?
I want to startr out small and build my way up. I can see the neighborhood turning around and I feel that the property value will rise significantly soon.
How did you find this deal and how did you negotiate it?
Raltor.com. I used standard negotiating procedures.
How did you add value to the deal?
Installation of new air conditioning systems, painted second floor, resurfaced floors on second floor. I plan to update electrical and plumbing.
Lessons learned? Challenges?
Challenged by the vast amount of upgrades this place needs. I have learned to be patient and take it one step at a time.
Most Popular Reply
How did you find a property with that many units for that low? Also if you found it on realtor.com why was it not already pounced on by very sophisticated investors even before it went on the market.