My First Investment Property

[Parker Shaw]

Investment Info:

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

Purchase price: $110,000
Cash invested: $10,000
Sale price: $290,000

This was my first ever rental purchase right out of college. I was able to renovate the property and increase rents on the duplex by over $300 per side while I owned it. I recently sold the property for $290k after purchasing it for $110k back in May of 2020. During the time I owned the property I profited $1,200 a month on average from the rental income. I was able to act as my own listing agent on the sale. I want to help others find similar deals to this one!

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

At the time I worked for a property management company. I was familiar with the world of rental properties, and decided if the people I worked for could do it....so could I!!

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

I found the listing on Zillow. I was able to negotiate the owner paying for closing costs and adding that amount onto the sale price so that I could finance it.

How did you finance this deal?

I used an FHA loan to house hack the property for a year before moving out and renting both sides.

How did you add value to the deal?

I was able to quickly renovate both sides, remove some poor tenants, sign students at the University of Georgia onto a lease, and increase rents by over $300 per side. This helped me receive the increased sales price.

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

I was able to list this property on my own. I am very familiar with renal properties in Athens, Georgia and would love anyone to reach out to me if they are interested in purchasing a rental property in an AMAZING college town like Athens.