Triplex Office Hack

[Jeff Campbell]

Investment Info:

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

Purchase price: $60,000

This is a triplex that I use the middle unit as an office and rent out both sides. It's been a significant investment that gives me cash flow and allows me to have an office for free where I do wholesale deals and run my rental portfolio out.

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

It had a great location on one of the busiest streets in my hometown that I could rent out two of the units and use the other as an office.

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

The seller has a for sale by owner sign out front of the building. I called him and met him the next morning and got it under contract.

How did you finance this deal?

I used a local bank

How did you add value to the deal?

I went in and remodeled two of the units that were empty and got good paying tenants to rent the units

What was the outcome?

I now have a triplex that has increased in value that cash flows and allows me to use the middle unit as my office. It's been a great deal!

Lessons learned? Challenges?

I would have checked my contractor, who did my remodel more thoroughly. I had to redo some things from them, taking shortcuts to cut costs for more profit.

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

I used Central Bank in Little Rock and did the loan with zero money down.