Duplex to SFR Conversion

[Tye S.]

Investment Info:

Small multi-family (2-4 units) fix & flip investment in Coeur D Alene.

Purchase price: $265,000
Cash invested: $172,000
Sale price: $550,000

Largest project to date. Major rehab/updates and converted from duplex to SFR to maintain integrity of the neighborhood.

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

Saw the potential for years and the opportunity eventually presented itself.

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

Lived in and flipped a neighboring home.

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Where to start...

What was the outcome?

Positive

Lessons learned? Challenges?

Everything takes longer than expected and costs more than anticipated.