In Law Duplex renovation

[Ryan John]

Investment Info:

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

Purchase price: $185,000
Cash invested: $10,000

Mother In Law suite converted into upper and lower units renovations modern touches clean

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

I was sick of analysis paralysis pursued action over perfection, constantly sniffing for deals even if I am not exactly sure how i will finance the deal just always seeking opportunities and it paid off "so far" ha

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

Found it through an individual I know through the many travels as an auto adjuster "by day" . I over heard him say to the owner of the shop I was in when are you going to find someone to buy my house !!! I politely said ME without even really knowing the details just wanted to show I am serious and ready for a deal, It was a "single family" so it was not in my ballpark but I said lets look at it next we know hand shake/contract written up and I didnt beat him up on price because it was fair.

How did you finance this deal?

30 yr fixed

How did you add value to the deal?

Flooring, fixtures, added square footage ,updates, paint,trim, added washer and dryer ,carpet, landscape, walkways, drainage, plumbing, electrical

What was the outcome?

We will see

Lessons learned? Challenges?

contractors are tough to lock in when you find good ones treat them good and build relationships based on trust and compensation

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

Nickel City Funding ,,, good crew over there