Updated almost 6 years ago on .
INDY Duplex/ First Property
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $40,000
Cash invested: $60,000
Duplex, needed HVAC, Water Heaters, Furnaces, and some siding
What made you interested in investing in this type of deal?
On the border of a hot location! Rehabs across the street for 300K
How did you find this deal and how did you negotiate it?
We found it on the MLS
How did you finance this deal?
Cash
How did you add value to the deal?
We made this property habitable again! It was empty 3 to 4 years prior to us owning it!
What was the outcome?
We are able to pull all the money out through refinancing it!
Lessons learned? Challenges?
It was our first deal! We built a team as we went! We learned newbies are better off keeping the properties in their names if you want to refinance the property! Our mistake was transferring it to our LLC.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Diego Hernandez