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Updated about 3 years ago,

User Stats

10
Posts
3
Votes
Amanda Harding
  • Rental Property Investor
  • Providence, RI
3
Votes |
10
Posts

Duplex: Poor MLS listing

Amanda Harding
  • Rental Property Investor
  • Providence, RI
Posted

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Providence.

Purchase price: $245,000
Cash invested: $10,000

I found this property on the MLS. It had bad photos and appeared to have incorrect square footages, but I knew the neighborhood and decided to check it out anyway. It was summer 2020 just before the market really skyrocketed--I was the only offer and I was able to buy below the listing price.

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

I'm always looking for value add properties with cashflow.

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

I found this deal on the MLS and negotiated through my realtor

How did you finance this deal?

FHA loan

How did you add value to the deal?

I've done upgrades to the kitchens and bathrooms in both units, redid the entry stairway, and landscaping

What was the outcome?

I've held this as a long term rental

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

My agent Dave Zuller from Westcott Properties