Duplex in Marysville, OH

[Adam Fout]

Investment Info:

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

Purchase price: $116,000
Cash invested: $37,000

This is my second investment property, a 1900's duplex, purchased on the MLS.

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

This duplex was priced very well on the MLS and came with detached garages which demands higher rent.

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

MLS. I made an offer within days of it being listed. I used a local realtor for the negotiations.

How did you finance this deal?

Conventional 30 year mortgage

How did you add value to the deal?

Removed the upstairs tenant when they stopped paying rent. Cleaned up the unit, replaced the 1960's era freestanding heater with electric baseboard heat, painted and new carpet. Now rented to some great tenants.

Lessons learned? Challenges?

This deal was pretty straightforward and I feel like I got lucky and found a great deal on the MLS. The previous owners needed to sell quickly and it presented a great opportunity for me.

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

Katie Crocco of Remaxx Winners, Marysville, OH