Updated over 4 years ago on . Most recent reply
First one down and nine more to go!
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $144,000
Cash invested: $40,000
Closed on my first investment property! I purchased a duplex in Columbus, Ohio, 2 bed 1 bath each side.
What made you interested in investing in this type of deal?
A duplex seemed like it would provide a little bit more security than a SFR, as I could at least cover the monthly mortgage at 50% occupancy.
How did you find this deal and how did you negotiate it?
Through my realtor and endlessly watching the MLS.
How did you finance this deal?
Down payment was provided by HELOC on my primary residence and then traditional mortgage for the remaining amount.
How did you add value to the deal?
I haven't yet. The property was already rent ready. Over time I hope to do some upgrades to the kitchens and floors to add value.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Indeed. My realtor Kristin Carifa was a rockstar!
Most Popular Reply
- Real Estate Broker
- Columbus, OH
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@Jeremy Hurd Vaughn St.?
I used to own over here...buying around $35k and exiting around $115k...I got out way too early...value is still supported, though. It's a good buy at $144k. Thanks for sharing. I'm tempted to start buying over here again, lol.
I'm writing offers for clients 1-block over for comparable properties at $165k...and prices are still rising rapidly!
- Brandon Sturgill
- 614-379-2017
