My second investment

[Ava Randelia]

Investment Info:

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

Purchase price: $215,000
Cash invested: $300,000
Sale price: $645,000

This was a duplex, which I turned into an Airbnb.

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

I wanted to try out the short-term thing, before getting long-term tenants in there, and that turned out to be a great decision.

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

I found this on the MLS.

How did you finance this deal?

Cash, from refinancing my primary home, combined with some savings.

How did you add value to the deal?

This duplex was in bad shape, so I invested about $75000 to fix it up.

What was the outcome?

It turned out to be a great investment.

Lessons learned? Challenges?

I kind of regret selling it, because I had great cash flow.

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

I represented myself.