Currently working to rehab this duplex in Arvada with the intent of either flipping or holding for long term rental. There was a fair amount of deferred maintenance and a horder tenant to get out of there. We expect to put in about $30k. Going to be a nice property across from the Arvada Center.

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

We have great experience with duplex properties. They live like single family homes with a yard and garage so we get families that rent them and our turnover is very low. When one side is empty the other side pays the mortgage.

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

The seller approached us to list the property. However, he didn't want to deal with the tenants through the sales process, and the property had some structural issues that would have made it challenging to some buyers. We are experienced dealing with these issues so we negotiated a direct deal with the seller.

How did you finance this deal?

Currently financed on a short term installment loan with 1st Bank at 5%. We used a line of credit on another property for the down payment. Once rehabbed we will either sell it or refinance it to long term financing.

How did you add value to the deal?

Correcting the structural issues, rehabbing the units, adding egress window and bathroom in the basement of one side. Roof, furnaces and water heaters were all newer when purchased.

What was the outcome?

Still in progress

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

We are real estate agents that specialize in small investment properties like these (West Peak Properties). Most of the time we broker deals like this for our clients. Every once in a while we take on one of our own projects.

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Arvada Duplex Rehab fix and flip or hold

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