Investment Property in Michigan, Duplex

[Melanie Stopfer]

Investment Info:

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

Purchase price: $24,000
Cash invested: $20,000

Duplex on a city lot.

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

Monthly cash flow

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

Probate court

How did you finance this deal?

Loans and cash

How did you add value to the deal?

Rehab, new bathroom, new ceiling, new flooring, new water heater, new windows.

Lessons learned? Challenges?

Length of time to remodel was longer than expected. Learned more about housing markets in general.