Duplex in Frankfort, KY

[Emily Beatty]

Investment Info:

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

Purchase price: $80,000
Cash invested: $80,000

Fully Occupied Duplex in Frankfort, KY.

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

Cash Flow opportunity and fully occupied - a long distance investors ideal situation. 1100 a month in gross rent collection (unit A - 500, unit b - 600). Not a lot of work to be done right away.

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

MLS property, used a realtor to negotiate.

How did you finance this deal?

Cash. Plan to Cash-out refi in 6-12 months after rental history is more established

How did you add value to the deal?

Able to close in 2 weeks with cash in hand. Property is mostly turn-key. Will need a new roof eventually

What was the outcome?

I have a cash-flowing property with renters in place.

Lessons learned? Challenges?

Have a few items to take care of to get the property running full steam - probably around 2K of small items.