2 unit semi detached

[Will Antonio]

Investment Info:

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

Purchase price: $260,000
Cash invested: $40,000

Property is in Calgary, Alberta, CANADA (no option in location for canadian investments). About 5 hours north of White Fish, MT

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

the ability to legalize basement and "split" the property into 2 for positive cashflow

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

through real estate agents that specialize in investment properties. Negotiated price down from 280,000 down to 260,000 due to needing a new roof and minor foundation repair

How did you finance this deal?

done through a traditional residential mortgage with 25 yr amortization and 5% down

How did you add value to the deal?

legalized the basement suite and rented up/down for positive cashflow

What was the outcome?

fully renovated both units and are now fully rented with 4-500/month cashflow

Lessons learned? Challenges?

have multiple quotes and set up trades in advance when doing renovations. Delays in finding available subs caused delays on the project

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

real estate agents name tim & sid based in calgary, alberta