Great Duplex Deal near downtown Fort Wayne!

[Lee Fuhr]

Investment Info:

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

Purchase price: $35,000

Contributors:
Peter Fennig

Duplex near downtown with good bones and lots of upside. Full rehab inside, new kitchen, plank flooring, fresh paint, and updated appliances. Excellent rental property!

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

Great rental property, near downtown, close to everything.

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

Wholesaler brought it to my business partner, got it for a steal!

How did you finance this deal?

Hard Money loan with Marshall Reddick lending, cash out refi in the works.

How did you add value to the deal?

Full renovation inside, plus new roof.

What was the outcome?

Beautiful rental property, very happy with the outcome.

Lessons learned? Challenges?

This was a pretty easy renovation, no huge surprises. Took a little longer because we were split between 3 projects that ended up at the same stage at the same time, but really happy with the final product.

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

Used Jay Price at Mike Thomas Realtors to help with valuation and number crunching. Highly recommend him to investors! He knows his stuff on ARV and he's incredibly thorough!