Triplex Sold in San Antonio

[Kristina Modares]

Investment Info:

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

Purchase price: $120,000
Cash invested: $30,000
Sale price: $250,000

This was one of the first properties I purchased! I bought it with my friend, Brent. I'm a huge fan of buying with partners and have done so with every property I own today :)

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

I was 25 at the time and trying to buy a house in Austin where I lived but prices were more than I could afford at the time (HA!). I also had just gotten my real estate license so a lender wouldn't lend to me on my own. I had started to go to San Antonio with my friend because he was looking in the area to potentially open a hostel.

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

We found the deal by just looking on the MLS and Loopnet. I think we were able to knock the price down about $10K and bought it at 130,000 with 30% down.

How did you finance this deal?

We worked with a bank called Sage Capital. It's a small bank in Texas and they were able to help us out. Other banks wouldn't work with us on this property because it was a bit unique. Half commercial and half duplex.

How did you add value to the deal?

We did some minor renovations...painted and put new floors in. We also hired someone to change out the water heaters and fix the foundation