First Mulit-Family - Investment Duplex

[Candice Kenney]

Investment Info:

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

Purchase price: $325,000
Cash invested: $81,250

Duplex; 3/2.5 for $1950; 2/1.5 for $995

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

After renting out a condo, I wanted to own an entire building, so went with a Duplex as a next step.

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

I found it through the MLS

How did you finance this deal?

25% down, 75% bank financed

How did you add value to the deal?

Both units were rented. We kept one tenant and turned the other unit over. The vacated unit had a light update: new carpet upstairs, new LVP floor in the living area, new kitchen countertop, paint...and....the big one - we had to build and install closet doors

What was the outcome?

We increased rent on the unit from $1350 to $1950