Investment rental property

[Stephanie Duran]

Investment Info:

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

Purchase price: $197,500
Cash invested: $40,000

Single family home with an apartment in back

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

Looks like a single family home (for resale purposes) but pays like a multi family in cash flow

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

Realator. Mls. Zillow. It was priced right. I offered $5k less. Seller came back at 197,500. So we met in the middle

How did you finance this deal?

Lender bank loan. 25% down.

How did you add value to the deal?

Added water meter on 2nd unit.

What was the outcome?

Holding it for long term

Lessons learned? Challenges?

Adding Water meter was more expensive than expected. More cash out of pocket.

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

Yes. Russell Holmes.