Duplex in Tarpon Springs, FL

[Mo Maktari]

Investment Info:

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

Purchase price: $355,000
Cash invested: $100,000

Duplex (2 bed/1 bath each) in the beachy area of Tarpon Springs, Fl. Minutes away from the famous Sponge Docks and Greek Town. One unit is being used for a LTR and other STR.

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

Passive Income in a tourist area of Florida.

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

Semi-off market deal with the listing agent being the father of the owner who does not have time to deal with a rental property. The duplex was originally listed for $398k but being that the seller was very negotiable, we were able to get our offer of $355k accept same day.

How did you finance this deal?

Used HELOC from primary to use as down payment and used a DSCR loan to finance the rest.

How did you add value to the deal?

Once the lease is expired on one of the unit, we will use it as a STR to further increase our passive income.

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

Taylor Schaberg