Duplex in Indianapolis

[Erin McLellan-Dawe]

Investment Info:

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

Purchase price: $108,000
Cash invested: $40,000

Duplex near Woodruff Place in Indianapolis....our largest rehab yet and just starting out. We are hoping to have one side rented by mid-July 2020.

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

We have been looking in Indy for awhile as the prices tend to be reasonable and appreciates better than other cities. We have local connections that will be assisting with the rehab etc...really looking forward to making this a win.

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

We found this deal from a wholesaler on Facebook marketplace. Before this the best deal I got on Facebook market place was our dining room set.

How did you finance this deal?

We had a private money lender and leveraged our HELOC on our first rental.

How did you add value to the deal?

The rehab is just getting started and will update post once we have at least 1 side completed and rented.

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

Wholesaler, Lauren Hicks from Acquire Realty