New Construction Multifamily Duplexes As Short Term Rentals

[Lavon Woods]

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $45,000
Cash invested: $260,000
Sale price: $398,000

Built A duplex from the ground up. Split the original lot into two and sold the first deal for the highest sale in the area. 398K.

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

I want to build a portfolio of multifamily units that cash flow with short-term rental cash flow.

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

I found the lot on the MLS

How did you finance this deal?

I financed it using HK Lending Construction Loan Program for new investors.

How did you add value to the deal?

I split the lot into two to increase the value and drew up plans to build a duplex to fit on the 1st lot.

What was the outcome?

I sold the duple and leased it back to do a short term rental arbitrage and cashflow the property.

Lessons learned? Challenges?

I learned how to finance, and build from the ground up. I can now develop any project I want.

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

HK Lending. I'm a loan officer as well. @ldubbceo