Great Cash-flowing Duplex in the D.

[Trevor Penn]

Investment Info:

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

Purchase price: $170,000

Great cash-flowing property, with high C-o-C. Great Location and great tenants.

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

100% the decision was made for, Cashflow.

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

This deal was sourced through my team in the Detroit Market. We offered a little than market value for the Cashflow; inherited some things, while getting others square away before sale, overall we came out to the plus. A great deal for us, and a winning deal for the seller.

How did you finance this deal?

Conventional

How did you add value to the deal?

Remodeled the kitchens in each unit, the bathrooms, fresh paint, new flooring... we went in and gave a full interior face lift to both units.

What was the outcome?

Great long term tenants, impeccable rent payment history, and property value have gone up substantially.

Lessons learned? Challenges?

Remember to be adaptive; you walk away with far more wins that way, period.

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

I highly recommend myself. Lol But truly, yes, real estate investing is more than just something I'm good at. And, I'm genuinely thankful for the life change I'm able to help bring about for others. ESPECIALLY, because it's a family or persons financial livelihood that I'm able to have a real impact on. That changes the every tomorrow thereafter. I love that.