Owner-occupied duplex turned rental

[Julee Felsman]

Investment Info:

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

Purchase price: $177,500
Cash invested: $5,500

My second home. An up/down conversion duplex in Rose City Park. I could see moving back to the main floor unit some day. Great space in a lovely neighborhood.

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

I was ready to move from my first home and wanted to buy a plex to be my next home.

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

it was listed in the MLS. I contacted a realtor friend to show it to me. It was love at first sight.

How did you finance this deal?

I did a conventional ARM with 3% down.

How did you add value to the deal?

I've painted, pulled carpet/refinished floors and updated the kitchens and baths in both units. I've done some light landscaping. But this is just a solid building I've been lucky to steward over the years.