Updated about 4 years ago on . Most recent reply
Muskegon Multi family
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $150,000
Bought this duplex with a HELOC on another property. 2 bedroom downstairs, one bed up. Fully rented in less than 30 days for $1850/mo. On to the next one!
What made you interested in investing in this type of deal?
This is my first multi, I was excited about a little larger cash flow than my singles.
How did you find this deal and how did you negotiate it?
The house was on MLS but listed incorrectly as a single family and therefore priced below market for a duplex on that neighborhood.
How did you finance this deal?
HELOC on my primary for a down payment on a traditional 30yr at 3.2%
How did you add value to the deal?
So far I've replaced flooring and made access to the basement laundry possible for both units. Other than that it was a turn key investment.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
LMCU has been with me all along my investing journey. Brian Klingel is a great realtor/ mentor.
