All Forum Posts by: Genia Sanchez

The property is in Burleson, just south of Fort Worth. There aren’t many comps for duplexes in this area, which makes it a little tricky to pin down values. There are more comps about 10 miles away, but that’s a very different market and demographic, so it’s not really apples to apples.

This is actually my first investment property, so I'm weighing my options carefully. I'm honestly a bit nervous about selling it and not being able to find another duplex like this anytime soon, which has me leaning toward keeping it. Based on my numbers, the ARV is around $369K if I list it. But if I refinance at $325K, I think I can get about $1,650 per unit in rent.

I'm just trying to make the smartest move I can without regretting it down the line.

 If I re-fi, I would have to take enough equity out to invest in the next project. 

Thanks Alecia. I appreciate the advice.

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $215,000
Cash invested: $60,000

I bought this property as a fix & flip, but now I am considering refinancing and keeping it and renting both units out.

What made you interested in investing in this type of deal?

I am a Realtor and was contacted to list the property and decided to purchase it as a FSBO.

How did you find this deal and how did you negotiate it?

I am a Realtor and was contacted to list the property and decided to purchase it as a FSBO, saving the seller listing fees allowing me to offer a lower price.

How did you finance this deal?

HML

How did you add value to the deal?

Complete remodel

What was the outcome?

Still in progress. 4 weeks left to completion

Lessons learned? Challenges?

I've learned how to prepare my proposed budget to better align with my draw request for the project.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Myself.