Maisonette turned 2x1BR, 100%+ cash-on-cash ROI

[Nikola Marinov]

Investment Info:

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

Cash invested: $13,000

Had an unfinished two-storey unit in a residential building from my parents. Split it into two 1BR apartments, did most of the work by myself which was very interesting, and have been renting them out with virtually 0% vacancy since then.

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

I wanted to make a dormant asset work for myself.

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

Family

How did you finance this deal?

Personal savings and consumer loan

How did you add value to the deal?

I did most of the work myself.

What was the outcome?

Rental income which has helped me get out of debt and save for my next RE investments. :)

Lessons learned? Challenges?

Don't do everything on your own in general but do it once so you know what to expect and how to manage contractors better.