Investment Number 2: Sunnybrook Duplex

[Krissie Poplin]

Investment Info:

Small multi-family (2-4 units) commercial investment investment.

Purchase price: $122,500
Cash invested: $34,000

This is our second real estate investment. This property is a duplex that we rent out to two couples. Each unit has two bedrooms, one bath, and an attached garage. The property sits on over two acres in town across the street from Sunnybrook Park.

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

We discovered this deal from driving past the property. The couple that my fiancé and I purchased this property from were selling it by-owner. They were trying to sell all of their investment properties in Minnesota, so they could move to their dream home in Montana. Once we met with the couple and we over their profit and the number, we were immediately interested in the idea of a multi-family home.

How did you finance this deal?

We financed this deal on a 30-year fixed conventional mortgage with 20% down.

How did you add value to the deal?

We added value to this deal by updating some light fixtures, flooring and faucets.