Duplex purchase was my first investment.

[Account Closed]

Investment Info:

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

Purchase price: $100,000
Cash invested: $40,000

side-by-side duplex. 2250 total sfla. 3bedrooms and 1.5 baths each unit. annual gross rent $26,400. Cash flow $675/mo. ROI 25%

How did you finance this deal?

Conventional fixed 15 year mort ~3% int.

How did you add value to the deal?

pd about 20 k under mkt. because mother-in-law owned it but moved out of state and couldn't manage it.
i remodelled both kitchens which were tiny but there were large dining rooms. i removed separating wall of 7x10 kitchen and made large eat-in -kitchens

What was the outcome?

All good.

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

we didnt have any realtors.