Seattle Duplex Conversion

[Timothy Eaton]

Investment Info:

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

Purchase price: $480,000
Cash invested: $75,000

Purchased as a single family home with a basement and a seperate entrence. Converting the basement to a living space to make a duplex.

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

Becasue i can house hack it.

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

It was my first purchase, did not know a whole lot. I bought it on market and there were definetly some learning lessons here. I did not negotiate. Lesson learned.

How did you finance this deal?

Conventional financing.

How did you add value to the deal?

Built out the basement into a 2 bed/1 bath unit

Lessons learned? Challenges?

Negotiate price always. Do a more thorough uinspection before purchasing and learn what exactly it will cost to rehab it before going all in. Have the rehab budget before purchasing so you dont have to start from zero dollar once you move in.