First Duplex! - Denver

[Cody Bell]

Investment Info:

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

Purchase price: $512,000
Cash invested: $5,000

Brick, one story duplex located in Villa Park, Denver Co. Each unit has 2 bedrooms, 1 bath, and 760 sf. I will be remodeling while living here to earn some "sweat equity" as I continue to save for the next investment!

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

Eliminate my living expense for future investment opportunities. Great location in path of growth allows for increased appreciation potential.

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

Found on Redfin, had been on market for nearly two years.

How did you finance this deal?

VA Home Loan.

How did you add value to the deal?

Will be completing the update throughout and deferred maintenance myself as I live there.

What was the outcome?

Still in process.

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

Yes!! Madison Kissel with Compass

[Steve K.]

Congrats on the deal. Villa Park is definitely getting hot. Great location long term in my opinion. Two years on the market in Denver? Was the seller just asking an unreasonable price or not advertising well or what? Did you offer well under asking? Low down payment, building sweat equity, good location... hard to lose on this one! Nice work.