1st Multi-family (small) but LTR #4

[Yolanda Salas]

Investment Info:

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

Purchase price: $125,000
Cash invested: $25,000

Duplex 2/2 each side - walking distance to the beach. Could raise the rent much higher after hurricane Micheal but tenants have been great and in place 2+ years.

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

I learned that duplexes offered better cash flow and have begun to move more in that direction. This was a foreclosure and bank was ready for a cash buyer that could close quickly.

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

MLS

How did you finance this deal?

Cash deal

How did you add value to the deal?

Cleaned up and painted the units inside, changed out the flooring and carpet, new standard white appliances.

What was the outcome?

Still earning great cash flow. Appreciation fantastic, estimated current value at $289000

Lessons learned? Challenges?

Duplexes are great investments and I wish I had started there. Better cash flow and simpler maintenance for the earnings.