Duplex - turned into 2 airbnb units

[Kristi Kandel]

Investment Info:

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

Purchase price: $223,000
Cash invested: $78,000

duplex with each unit 2bed 1 bath

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

Ability to invest in an area that is rapidly turning around near downtown Columbus

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

MLS and outbid a handful of offers using an escalator

How did you finance this deal?

25% down cash

How did you add value to the deal?

instead of LTR we furnished both units into STRs and doubled the monthly income

What was the outcome?

instead of LTR we furnished both units into STRs and doubled the monthly income

Lessons learned? Challenges?

This was pretty straight-forward. The AC units didn't come charged (we bought it remodeled) but we got lucky that the seller didn't want a bad flip reputation and they reimbursed us for charging the units

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

N/A