Updated about 16 hours ago on . Most recent reply
Virginia Beach Duplex
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $411,000
Cash invested: $32,000
Duplex top/bottom (both 3/2) with 8 off road parking slots, dryer/washer hook ups for both units.
What made you interested in investing in this type of deal?
Cash flow
How did you find this deal and how did you negotiate it?
MLS, aggressively
How did you finance this deal?
DSCR
How did you add value to the deal?
Floors/paint/exterior cleanup, added washers and dryers to both units and upgraded the water heaters
What was the outcome?
Both units rented at market with great cash flow
Lessons learned? Challenges?
Everything always takes longer than predicted!