Updated over 5 years ago on . Most recent reply
Fun first time Duplex
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Oswego.
Purchase price: $150,000
Cash invested: $5,000
A duplex sitting on an acre of land right outside of beautiful old downtown Oswego. Purchased and held current tenants until contracts were fulfilled. Once vacant we renovated and enrolled units into housing assistance programs which pushed the original $780 per unit to $1200 a unit. Very happy and hunting for more in the surrounding areas.
What made you interested in investing in this type of deal?
Best bang for your buck that I could afford.
How did you find this deal and how did you negotiate it?
Driving for dollars.
How did you finance this deal?
Conventional loan.
How did you add value to the deal?
Renovation and enrollment into government assistance programs.
What was the outcome?
Steady cash flow with minimal time investment.