Long Term Rental Property

[Daniel Idstein]

Investment Info:

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

Purchase price: $264,500
Cash invested: $66,125

Upper and Lower 3 Bedroom Duplex

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

Looking for long term cash flow on a unit that had below market rents.

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

MLS and a good agent

How did you finance this deal?

HELOC on another rental property

How did you add value to the deal?

Remodeled kitchens, added dishwashers and granite counters

What was the outcome?

Got both units rented for over $1,300 per month

Lessons learned? Challenges?

Trying to rent in January is really hard in WI!

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

Firefly Real estate, they know Wauwatosa and they are great with Investors. Worked with both Katie Wakefield and Anne Mueller