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Updated almost 3 years ago,
Duplex Buy & Hold for Passive Income
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $348,000
Sale price: $758,000
Run down Duplex
What made you interested in investing in this type of deal?
Passive Income potential
How did you find this deal and how did you negotiate it?
Drive by saw small "For Sale" sign, ran home to call it, met with seller family member who was elderly and wanted to unload the property. Father helped purchase for cash, then re-financed. Was totally run down, cleaned it up and had immediate cash flow.
How did you finance this deal?
help from father
How did you add value to the deal?
cleaned up the property for immediate cash flow
What was the outcome?
great cash flow, lost property in divorce
Lessons learned? Challenges?
I want more!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No agents involved.