Duplex outside of New Orleans.

[Cody Hebert]

Investment Info:

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

Purchase price: $152,000
Cash invested: $10,000

House Hacking at the moment Potential to cash-flow $1000

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

Being able to live nearly mortgage free while I look for new investment properties.

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

Found this through real estate agent.

How did you finance this deal?

I used an FHA loan, that way I did not have to use my capital on a down payment and could use the capital on renovating.

How did you add value to the deal?

I changed the flooring (lvp), renovated the bathroom completely, and add new quartz counter tops.

What was the outcome?

I was able to increase one side of the duplex rent by $100.

Lessons learned? Challenges?

Should have worked the deal a little bit better. I bought because of location not because of cash flow. I am hoping on appreciation.

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

Yes I worked with a local real estate agent. They were geared to get people into homes as opposed to finding an investment property. Vey helpful company though.