First Investment Property
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Found a small duplex for sale and jumped in! Renovated the first unit to get income going before tackling the second unit which ended up needing significant work. I did all of the work myself with help from family and friends. I worked full-time as I did this and had to put in long hours at times, but I really enjoyed the process.
How did you find this deal and how did you negotiate it?
Zillow! Right place at the right time with a motivated seller
How did you add value to the deal?
CLEANED! Also, replaced carpet with LPV, paint throughout, light bathroom remodel, and a full kitchen remodel that included replacing sub floor and a bottom plate in the wall.
Lessons learned? Challenges?
The whole thing was a challenge but a great learning experience. Always plan for more money to do renovations. Fix things right the first time!