Buy and Hold duplex that turned into a 1031 exchange property.

[Mike Paolucci]

Investment Info:

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

Purchase price: $145,000
Sale price: $195,000

Initially purchased this 2/1 duplex as a buy and hold investment. Had an opportunity to purchase a better property and used this duplex as a 1031 exchange property

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

I wanted to expand my portfolio, so I purchased this duplex.

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

My real estate agent found this deal.

How did you finance this deal?

conventional loan

What was the outcome?

I ended up selling this property as a 1031 and using the proceeds to purchase another duplex in a better neighborhood and bought into more equity.