Duplex in the Highlands

[Jackie Lambert]

Investment Info:

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

Purchase price: $245,000
Cash invested: $64,000

Our first investment property, refinanced once. Located in a very hipster part of town.

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

Zillow. Price was non negotiable, but fair.

How did you finance this deal?

FHA loan, used cash we had been saving up.

How did you add value to the deal?

Remodeling both sides. One side partially upgraded Mar 2018, the other side a complete remodel in Jan 2023. Both long term rentals. One side also has brand new HVAC as of Oct 2023 and both got new water heaters in 2023.

What was the outcome?

Took rents from $1900 to $2925.