Duplex in Florida Recently purchased

[Account Closed]

Investment Info:

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

Purchase price: $175,000

Cash invested: $50,000

Duplex, 1,800 square foot located in bradenton FL, good working class area very easy to rent with expected appreciation and high rents. Currently rents for a little over $2,200. Got a conventional loan through Chase Bank, with 25% down, put another 20-25k into replacing the roof, and other other things to it.

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

The cash flow along with the good area it is located in, as well as good purchase price

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

Through an excellent agent I work with in the Bradenton/Sarasota/Tampa area

How did you finance this deal?

Conventional, 25% down

How did you add value to the deal?

New roof, new electrical panel, new ac unit, minor paint touch ups

What was the outcome?

The ARV is easily worth 225k