Newly Added Shore Duplex

[Josh Starner]

Investment Info:

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

Purchase price: $490,000
Cash invested: $150,000

Property generates $4,050 a month income, rents are below market. Expenses including mortgage are $3,100 a month. The play is a 3 to 5 year hold, raise rents to get the valuation up to 600K and liquidate to 1031 into another investment. The 1K a month (12K annual) will be reinvested into the property to minimize taxable gains in total portfolio and increase the value of the property. Looking to turn the $150K to $250K in a 3 to 5 year hold while maximizing deductions.