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Updated 4 months ago, 08/14/2024

User Stats

53
Posts
21
Votes
Kavin Kuykendall
  • Rental Property Investor
  • Panama City
21
Votes |
53
Posts

Buy and hold exit

Kavin Kuykendall
  • Rental Property Investor
  • Panama City
Posted

Investment Info:

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

Purchase price: $250,000
Cash invested: $15,000
Sale price: $385,000

This triplex is my first deal. I was able to partner with my parents to secure funding for the down payment via their HELOC. I pay them interest-only payments allowing me to maximize cash flow. I have slowly worked on improving management to increase cash flow from $0 to ~$800/month currently. I pour all cash flow back into the property, slowly renovating and increasing rents.

After small renovations and improvements I decided to sell after moving away.

Sale price: $385,000
Return on capital invested: ~717%

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

Initially intended as a long term hold

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

Found on Craigslist, direct to seller.

How did you finance this deal?

FHA+ partner money

How did you add value to the deal?

Small renovations over time

What was the outcome?

Sold for $385,000

Lessons learned? Challenges?

I had no money when purchasing so I skipped inspections which was a big mistake.