Updated about 6 years ago on . Most recent reply
Duplex - turned into 2 airbnb units
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Columbus.
Purchase price: $223,000
Cash invested: $78,000
duplex with each unit 2bed 1 bath
What made you interested in investing in this type of deal?
Ability to invest in an area that is rapidly turning around near downtown Columbus
How did you find this deal and how did you negotiate it?
MLS and outbid a handful of offers using an escalator
How did you finance this deal?
25% down cash
How did you add value to the deal?
instead of LTR we furnished both units into STRs and doubled the monthly income
What was the outcome?
instead of LTR we furnished both units into STRs and doubled the monthly income
Lessons learned? Challenges?
This was pretty straight-forward. The AC units didn't come charged (we bought it remodeled) but we got lucky that the seller didn't want a bad flip reputation and they reimbursed us for charging the units
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
N/A
