Cleveland Duplex Rental #1

[Robert Matelski]

Investment Info:

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

Purchase price: $12,100

Cash invested: $20,000

Solid duplex with tenants in place. Nice street in North Collinwood area of Cleveland. Short sale.

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

Great buy and hold cash flow opportunity. Way below previous peak value.

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

MLS

How did you finance this deal?

Cash

How did you add value to the deal?

Got uncooperative tenant out of one of the units. Increased the rent on the other unit (Section 8). Brough suitable property management to the table. Challenged property tax assessment successfully.

What was the outcome?

Excellent monthly cash flow.

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

Mike Balamenti