Buy & Hold Duplex in Oceanside, CA

[Tida Hamilton]

Investment Info:

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

Purchase price: $390,000
Cash invested: $78,000

Duplex west of the 5, close to restaurants, cafes, and boutiques.

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

We originally purchased this property as a house hack, to live in one unit and rent the other. We lived in one unit for a few months before we came upon another property that we couldn't pass up.

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

I am a real estate agent and found the property in the MLS.

How did you finance this deal?

We refinanced our condo and used the cash out as the down payment.

How did you add value to the deal?

We did some cosmetic improvements to the exterior and interior.

What was the outcome?

The property has become very desirable and we can always fill any vacancies immediately. The last time it was available we had over 20 applicants.

Lessons learned? Challenges?

There have definitely been some lessons learned and we continue to add on to our Lease Addendum as we learn from our mistakes.

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

I am a Real Estate Broker and I represented myself.