Duplex - Fix and Flip

[Jasmin Hernandez]

Investment Info:

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

Purchase price: $180,704

Purchased duplex, fix and flip front unit and added additional bedroom. Plan to hold and refinance.

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

Purchase price was excellent for two units in Phoenix. Front unit needed full rehab

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

Found on Zillow

How did you finance this deal?

No financing. Purchased cash

How did you add value to the deal?

Full rehab of front unit. New floors, cabinets, electrical, water heater, insulation, drywall, and paint

What was the outcome?

Rehab is going well, plan to rent to new tenant at market rent

Lessons learned? Challenges?

Rehabbing takes longer than expected, plan accordingly and have reserves