Ohio State South Campus Duplex

[Jonathan Pavkov]

Investment Info:

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

Purchase price: $194,000
Cash invested: $12,000
Sale price: $300,000

Purchased the property with seller financing and a traditional mortgage. It is on Ohio State's South Campus area. Held and used cash flow to pay down debt and make updates as needed, then sold to invest in other areas.

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

It was my first multi-family purchase, and we negotiated the seller carrying 15% of purchase price in a personal note to him.

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

It was a FSBO sign.

How did you finance this deal?

5% down, 15% seller financing, 80% bank financing.

How did you add value to the deal?

Minor cosmetic updates, replaced windows, painted exterior.

What was the outcome?

Cashed out $150k to invest in other projects.

Lessons learned? Challenges?

While I made a nice profit, I should have held on longer!