Triplex in the Heart of Daytona Beach

[Krista Goodrich]

Investment Info:

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

Purchase price: $347,000
Cash invested: $69,400

Triplex in the heart of Daytona. Was two 2/1 units and a 2/1.5. Converted 2/1.5 to 3 bedroom ($500 investment, we just put up a wall). Rented all three units in a couple weeks for $1000/$1100/$2000.

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

Great location and cashflow

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

Was showing to a client that wants to get into real estate investing who was scared to pull the trigger.

How did you finance this deal?

Hard money that will convert to commercial loan plus 20% down

How did you add value to the deal?

Made a sitting room a bedroom

What was the outcome?

Rented all units within a couple weeks

Lessons learned? Challenges?

Read your sellers disclosures:)

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

Me:) and my real estate partner Kym