My First Deal - Making 2 units Out of 1

[Kiril Nikolaev]

Investment Info:

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

Purchase price: $500,000
Cash invested: $110,000

This is in Ontario Canada, not in the U.S. Couldn't pick Ontario in the state dropdown for obvious reasons.
2 units with separate laundry and kitchens.

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

Capital appreciation and cashflow. Close to 30% ROE for the first few years.

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

MLS. Saw it, liked it, gave an offer the second ay it was on the market.

How did you finance this deal?

A lender and personal funds.

How did you add value to the deal?

Made a second unit in the basement. Added a separate kitchen and laundry.

What was the outcome?

Great returns that continue to payoff even today.

Lessons learned? Challenges?

Do not cheap out when building a kitchen. Hire professionals.