Updated over 4 years ago on . Most recent reply
My First Duplex (fixer upper)
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Huntsville.
Purchase price: $180,000
Cash invested: $25,000
6 bedroom / 4 bath duplex that needed a landlord that cared about the property. Rehabbed both units after purchase and increased the rent to market rate.
How did you find this deal and how did you negotiate it?
Local realtor
How did you finance this deal?
1031 exchange
How did you add value to the deal?
This duplex was a bit run down. It needed rehab in both units which allowed me to raise the rent by 40 percent on each side.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Dena Puliatti with Weichert Realtors / The Space Place helped me spend my 1031 funds on good properties with a decent price to rent ratio.
