First time duplex owner in Norwood

[Jay Morgan]

Investment Info:

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

Purchase price: $265,000
Cash invested: $57,000

4B/2Ba & 2B/1Ba 3600 sq ft Duplex in presidential district of Norwood. Rents $1800 / $1000
First property under LLC with 2 partners

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

High end finishes

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

Zillow 20k from asking

How did you finance this deal?

Yes

How did you add value to the deal?

Simple reno from vacant to occ

What was the outcome?

Fully Vacant to fully occupied < 1 month

Lessons learned? Challenges?

Background checks are worth it