Updated about 7 years ago on .
First Duplex, Still learning
Investment Info:
Small multi-family (2-4 units) fix & flip investment.
Purchase price: $22,000
Cash invested: $22,000
Contributors:
Kevin Johnson
Bought a duplex from a wholesaler here on Bigger Pockets.
Currently Evicting Tenant and Rehabbing the other side.
What made you interested in investing in this type of deal?
Cheap Rental, that cashflows well and Offers multiple Exit Strategies.
How did you find this deal and how did you negotiate it?
@Quintez Thompson found me here on biggerpockets and wholesaled the deal to me.
How did you finance this deal?
Private Money Investor, with 50-50 split, 50- 50 profit or loss share.
How did you add value to the deal?
Complete remodel of empty unit. Rehabbed landscape. Pressure wash and paint.
Lessons learned? Challenges?
Challenges - I took a job out of state in Dallas Texas.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
@MarquelonSigler of HamSig Development is helping put the deal together and leading the rehab team.