Clearwater Florida Multifamily

[Account Closed]

Investment Info:

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

Purchase price: $164,000
Cash invested: $10,000

This is a duplex that I ran the numbers on that worked. It is in a great neighborhood and cashflows over $600 dollars monthly. My mortgage payment is only a $1000 but I rent one unit $800 and live in the other with a room mate at $700. It has equity now up to $180,000

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

It fits my living situation as a military member because it reduce my housing cost. I don't have a housing cost.

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

I found this deal on the MLS two years ago with a real estate investor agent like myself.

How did you finance this deal?

I financed the deal using a VA loan with a little down. It was optional

How did you add value to the deal?

I added value by remodeling the bathroom, painting and planting flowers and trim the trees and lawn maintenance.

What was the outcome?

It worked because my neighbors start to mow and keep their lawns maintained.

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

I worked with a real estate investor which is the best way. I am now a Realtor investor. I received my license and can help people buy and sale homes in State of Florida.