Good duplex deal. Huge potential
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Spokane Valley.
Purchase price: $219,000
Cash invested: $20,000
Contributors:
Aaron Farr
We purchased this property because it was a good deal for a duplex and it came with an over sized lot which we are subdividing into 2 more single family lots.
What made you interested in investing in this type of deal?
It was a good price for the duplex and it came on a large enough lot to split it into 2 extra single family lots.
How did you find this deal and how did you negotiate it?
Aaron farr with 4 degrees real estate brought this deal to me.
How did you finance this deal?
First interstate bank
How did you add value to the deal?
Renovated the vacant unit and splitting land.
What was the outcome?
Rented out both units and my civil engineer is in the process of sub dividing lots.
Lessons learned? Challenges?
Challenge here is waiting for the city of spokane valley to accept and record. 6 months!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
4 degrees real estate and whipple engineering
