$1900 more in rent? YES!

[Bettina Shobanke]

Investment Info:

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

Purchase price: $210,000
Cash invested: $4,000

Multi-family duplex close to hospitals and Kings Island, a main attraction!

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

We lived on one side and rented the other at first and it was close to family. Then we moved to single family and are renting both sides one furnished and one non-furnished.

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

Found on zillow and negotiated through a realtor.

How did you finance this deal?

401-K when there was a wave of penalty for taking out funds and then got a FHA loan when interest rates were the lowest.

How did you add value to the deal?

we rehabbed both sides making one side open concept in the kitchen/living room area. One side was heavily smoked in with literally worn out carpet, which was all updated.

What was the outcome?

Rent was at purchase roughly a total of $1550 for both sides. We have increased this to $3450 total. $$$ cha-ching. $1900 more in 2 years! Way more return than my 401-K would have been doing right now.

Lessons learned? Challenges?

We tried short term rental at first but found that occupancy was low in the area, so we did more of a medium term rental process and then long term on the other side.

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

We had a great loan officer that gave us the suggestion of using our 401-k for down payment! God is good