Duplex purchase was my first investment.
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Amherst.
Purchase price: $100,000
Cash invested: $40,000
side-by-side duplex. 2250 total sfla. 3bedrooms and 1.5 baths each unit. annual gross rent $26,400. Cash flow $675/mo. ROI 25%
How did you finance this deal?
Conventional fixed 15 year mort ~3% int.
How did you add value to the deal?
pd about 20 k under mkt. because mother-in-law owned it but moved out of state and couldn't manage it.
i remodelled both kitchens which were tiny but there were large dining rooms. i removed separating wall of 7x10 kitchen and made large eat-in -kitchens
What was the outcome?
All good.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
we didnt have any realtors.