Beaufort SC duplex - first deal

[Jeff Dawson]

Investment Info:

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

Purchase price: $225,000
Cash invested: $24,000

Living on the BP forums and listening to hours and hours of podcasts the last 3 years has finally paid off. It's a surreal feeling to finally close my first deal and start down the road of real estate investing. There are only a handful of duplex's in Beaufort and this is the fourth one in two years we've tried to close on and finally did!

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

Multifamily has always been attractive to me and I've studied the Beaufort market, especially multifamily extensively the last 3 years and knew asking price was a good deal

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

Zillow. Partnered with a broker friend.

How did you finance this deal?

Conventional fixed, 25% down, 30 yr

How did you add value to the deal?

With high labor cost in the area we decided to use our experience and do the renovations ourselves. New paint, HVAC, countertops, bath fixtures in both sides. New LVP floor in B side.