Multi-Family Duplex investment property I managed myself

[Scott Canosa]

Investment Info:

Small multi-family (2-4 units) other investment.

Purchase price: $281,000
Cash invested: $60,000
Sale price: $356,000

Sold the cash flowing investment property to liquidate funds and invest in a coastal home in Isle of Palms, SC.

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

Multi-family property allowed me to have a cash flowing investment. The cap rate was 11%.

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

This deal was found through a realtor who was contacted about an off-market, duplex for sale AS-iS.

How did you finance this deal?

Conventional loan with 15% down payment.

How did you add value to the deal?

I added new appliances, interior paint, energy efficient windows. That allowed me to increase the rent to market value. Rent increased from $2,200 per month to $3,200 per month the first year.