Toledo, Ohio Duplex

[Carlos A.]

Investment Info:

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

Purchase price: $82,000
Cash invested: $17,000

Early 1900s duplex located in Toledo, Ohio. Was in pretty solid shape when purchased with long standing tenants.

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

I was looking for a cheap way to get started in oos investing and small multifamily properties. Killed two birds with one stone.

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

It took me about a month to find. We were able to talk down the purchase price due to some simple fixes needed on the property.

How did you finance this deal?

Conventional financing.

How did you add value to the deal?

We increased the rent day 1 and redid the electrical work.

What was the outcome?

Was able to pay down the mortgage quickly and now cash flow handsomely.

Lessons learned? Challenges?

Cheap real estate isnt always the best way to get started. Look for equity growth and purchase based off total ROI not just cashflow.

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

Yes! Andrew Lee helped me find, purchase and manage the property!