I bought a second duplex that was fully rented
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Terre Haute.
Purchase price: $45,000
Cash invested: $10,000
I bought a fully rented duplex on contract for $45,000 with $10,000 cash down.
What made you interested in investing in this type of deal?
I like the extra cashflow from a duplex versus a single family home.
How did you find this deal and how did you negotiate it?
Deal was on the MLS listed with a local realtor. Listing price was $62,000.
How did you finance this deal?
I bought it with seller financing. $45,000 purchase price with $10,000 cash down payment.
How did you add value to the deal?
I cleaned up the grounds outside and moved the tenants from month-to-month to 1-year leases with slightly higher rents.
What was the outcome?
I still own the duplex and it is still rented by the inherited tenants.