Pre-Converted SF to Duplex buy

[Jordan L. Webster]

Investment Info:

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

Purchase price: $260,000

Duplex, bought with VA,no repairs needed

How did you finance this deal?

VA Loan

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

Luke Higgins with Keller Williams - Realtor
Steve Selgren with Titan Mortgage - Loan
David Mortensen - Discovery Home Inspection

[Keenan Fitzpatrick]

These are always exciting deals but they aren't nearly as easy as they appear to be. There are lots of considerations with the muni if you want to do it correctly so you can maximize the ARV on exit. I've seen a lot of them wash out most profit after meeting all the muni requirements to change the use of the property. MIL's and ADU's are a good way to find an advantage in needed to do less work but you still won't get that premium value of a duplex. Sometimes with some homes there actually is no additional value to be had as well especially with how values have changed recently. Those are the best deals but it's a case by case basis. Cheers and good luck!