My First Duplex Remodel!

[Sergio Pelayo]

Hello BP!

I recently completed my third transaction and purchased a Duplex! I completed the purchase on March 29th and both sides have been remodeled and rented out since then. It was a mutual venture with my dad. We did all the remodeling while working full time jobs. Took us a month to fix each side. Wanted to share some before and after pictures as well as the numbers.

Purchase Price: $280,000 w/ 25% down

Remodeling: $15,000

Mortgage note: $210,000 @ 5.25% (conventional) w/ a PITI of $1,500

(Creative financing for down payment. took out a Home Equity Line of Credit, HELOC, on my first single family to use for the down payment w/ a repay of 1% of the balance owing. Planning on paying this off fast to reuse on the next purchase.)

Final Rent of $1,250 per side sooo $2,500 total. Cash Flowing $1,000 a month *obviously not including expenses set aside that come w/ EVERY rental property :)