Duplex Clean and Turn

[Christopher Theder]

Investment Info:

Small multi-family (2-4 units) fix & flip investment.

Purchase price: $50,000
Cash invested: $7,000
Sale price: $85,000

Duplex, direct mail marketing (post card), Off Market private seller. Cleaning up a bit and looking to wholetail to investor or someone looking to build some sweat equity. Seller holding a note for 2 years. Consider a lease option out.

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

Call from seller.

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

Post card. Seller called year after sent. In person. Used cash flow analysis and repair estimate worksheet to justify price. Email and phone conversations.

How did you finance this deal?

5,000 own cash and paid closing costs. Seller financing for 2 years. 1st at 6%, 2nd at 10%

How did you add value to the deal?

Cleaned.

What was the outcome?

List on MLS today.