Duplex - [ 2 Units, 1 House and MIL suite ]

[Kevin Turano]

Investment Info:

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

Purchase price: $88,500
Cash invested: $30,000
Sale price: $160,000

BRRR. Purchased duplex for $88,500. $35,000 Rehab. Rented for $1,600 monthly. Refinanced at re appraised value of $160,000

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

Price. Location. Financing.

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

Looked at OLD mls listings instead of NEW.

How did you finance this deal?

Short term rehab loan and then refinanced.

How did you add value to the deal?

30,000 rehab.

What was the outcome?

$160,000 appraisal. 5 year rental agreement at $1,600.

Lessons learned? Challenges?

Too many to list right now!