duplex to triplex

[Tyler Wilcox]

Investment Info:

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

Purchase price: $171,500
Cash invested: $20,000

I bought this as a duplex bringing in $1250 total. It used to be a triplex so I converted back and charge 850 per unit. I also did owner financing with 20,000 down and 7% interest with a ballon after 5 years.

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

Opportunity to do owner financing and create a 3rd unit

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

On MLS

How did you finance this deal?

owner financing

How did you add value to the deal?

Change to a triplex and increase rent

What was the outcome?

Cash flow of 1500 per month

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

Tyler Wilcox eXp Realty LLC