Beautiful triplex renovation that turned into a great investment.

[Jason Turner]

Investment Info:

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

Purchase price: $360,000
Cash invested: $150,000
Sale price: $665,000

Purchased, took all units down to the studs and completely renovated this, now beautiful, triplex. Fully rented within in weeks.

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

It was the worst house on a good street and the numbers made sense.

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

It was an expired listing. I approached to agent and purchased with a conventional loan.

How did you finance this deal?

Conventional loan, personal capital and a ton of sweat equity.

How did you add value to the deal?

Total renovation, added a loft in the cottage, new driveway, new appliances and repiped. Built to last a decade with no major repairs.

What was the outcome?

Sold for over $100K profit and saved a great old home that built for the B actors/actresses from the nearby studios to live in. Has a great history.

Lessons learned? Challenges?

Too many to list but all were invaluable.