Rental Property Investor · Ft Mitchell, KY · Member since 2016 · 47 posts · 10 votes
Hey biggerpockets community!
It's a done deal we have closed on our first duplex and first investment property. We are very excited and a little (or a lot) nervous at the same time.
We bought our duplex for roughly $80k. It's a 1/1 and 2/1.
Rents:
Targeting $650 for one bedroom and $750 for two bedroom
Utilities:
Heat and Electric - Tenant pays
Water - Will work on RUBS
Renovation/Updates:
Kitchen - update cabinets with something clean and simple. Buy range and fridge.
Bathroom - update one vanity and redo tile
Outside - basic landscaping, some trees need to be dealt with but that's not an emergency.
There is also a large detached garage on the property. We were thinking of offering the tenants one spot per unit. The garage bays are not separated. I don't see an issue with that, is there something I am not thinking off?
PS Thanks to Biggerpockets for guiding us and helping us make it to our first deal!
Rental Property Investor · Ft Mitchell, KY · Member since 2016 · 47 posts · 10 votes
8y
it’s a large detached garage that’s big enough that it could be made into a third unit. I would definitely need to get the zoning permitted for it. And it would require a lot of money to make it livable.
Rental Property Investor · Ft Mitchell, KY · Member since 2016 · 47 posts · 10 votes
8y
Progress Report for two bedroom unit:
Installed 300 sqft of laminate flooring on the third floor that can be a bedroom/media room/office. It looks really good and really changed the way the room looks for about $350.
Rental Property Investor · Ft Mitchell, KY · Member since 2016 · 47 posts · 10 votes
8y
Progress Report for two bedroom unit:
Completely finished the flooring on the third floor along with the trim. Also started painting the bathroom. Didn't get as much done as I wanted to this weekend due some other things but that's the way it goes sometimes.
Got to keep moving forward and make up some time another weekend!