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Updated over 2 years ago on .

User Stats

15
Posts
8
Votes
Randy Buff
  • Real Estate Agent
  • Bradenton, FL
8
Votes |
15
Posts

Purchase of an extremely large duplex

Randy Buff
  • Real Estate Agent
  • Bradenton, FL
Posted

Investment Info:

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

Purchase price: $300,000
Cash invested: $75,000

Large duplex with 1,725 sq ft per side. 3/2 X 2 that is actually being used as a 5/2 X 2.

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

How large and well maintained the duplex was.

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

This was another off-market deal with an investor we represent that wanted to liquidate part of her portfolio.

How did you finance this deal?

We used a non-QM (Qualifying Mortgage i.e. not Fannie, Freddie, and FHA) that was a DSCR (Debt Coverage Service Ratio) loan with one of our lender partners

How did you add value to the deal?

repositioned the units with rents closer to market rents.

What was the outcome?

A strong cashflowing asset we plan on owning for several years.

  • Randy Buff