Duplex investment #2

[David Kay]

Investment Info:

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

Purchase price: $217,000
Cash invested: $2,300

3 bed 2 bath duplex 1200 sqft on each side. Fenced in back yard.

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

High quality, new build, best side of town.

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

For sale sign in yard. Roof was shot so my agent got me a new roof and gutters at closing.

How did you finance this deal?

Angel investor.

How did you add value to the deal?

Full remodel on one side including hardwood floors, fireplace, appliances, and 2 head shower. Signed a 3 year lease with non remodel side.

What was the outcome?

Raised rent 9%