Nearly 10x my downpayment in 5 years

[Robert Granat]

Investment Info:

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

Purchase price: $330,000
Cash invested: $45,000
Sale price: $650,000

Sold to a cash buyer to reallocate our equity to a property with less property insurance rate increase risk. Having lived in half of the property for 2 out of the last 5 years, we're able to avoid paying Capital Appreciate tax on half of the proceeds.

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

We used an investor-minded local real estate agent to sell the property - Jim Holmquist was fantastic!

How did you add value to the deal?

Replaced old carpeting with LVP flooring, installed custom-built closet and pantry cabinetry, updated all electrical switches and fixtures to Decora trim, added recessed lights and switches throughout Kitchen and Living rooms, updated the landscaping for curb appeal, repainted throughout property.

What was the outcome?

It was a great first run, nearly 10x'ing my original downpayment in 5 years.

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

Jim Holmquist was FANTASTIC as our selling agent, we would recommend him to any investor in the Palm Beach area