Northern Wisconsin duplex for $20,000.

[Kevin Porter]

Investment Info:

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

Purchase price: $20,000
Cash invested: $34,000

This duplex had a fire in the rear of the upstairs unit, but it had a metal roof, and separate utilities for both units. Plus it was 1500 sf per floor and the foundation was in excellent condition, with a full basement for a future shop.

A little over a year after purchase we have rented the upstairs unit for $800 per month. It's great to see the rents appreciating after the work we put in. I'm most proud of the refinished hardwood floors (bought a flooring sander for this property), the new double paned windows, the complete bathroom and kitchen remodel and the tankless hot water heater.

I probably put too much time and money into this one, but in my defense, it needed a lot of work. All the plaster was cracked and falling to pieces, etc.

I love being in a career that allows for so many paths to success.

I'm looking forward to seeing where the ARV comes out once exterior siding is complete.