Foreclosure Duplex Reno Purchase

[Virginia Frost]

Investment Info:

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

Purchase price: $150,000
Cash invested: $90,000

Bought as a forclosure gut job. Renovated it, lived in it for 2 years then moved on. Now it is fully rented as an investment.

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

The value add

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

Traditional MLS

How did you finance this deal?

Hard Money then refinance traditional residential after renovated.

How did you add value to the deal?

Completely renovated one unit.

What was the outcome?

Low maintenance building, top-end rents for the area due to the extensive work that was done and the location.

Lessons learned? Challenges?

If you can't do the work yourself, really vet your vendors. Our contractor was a crook.

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

I am a realtor