Student Rental #2 - Duplex

[Account Closed]

Kitchen After Kitchen Before

Investment Info:

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

Purchase price: $705,000
Cash invested: $200,000

We purchased a 2-family property on the market back in June '21. We did a full gut renovation and now have it leased out to college students.

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

There is a strong demand for student housing!

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

On the market! We bid higher than everyone else!

How did you finance this deal?

Conventional Loan!

How did you add value to the deal?

Full gut renovation of both units.

What was the outcome?

Strong stabilized rents to students.

Lessons learned? Challenges?

This was our first full renovation. It was more expensive than we originally thought!

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

AFC Mortgage Group!