I wish I could find another deal like this!

[Wesley Owen]

Investment Info:

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

Purchase price: $324,000
Cash invested: $85,000

One Duplex, one single family home purchased from the same owner. Both properties are next door to each other.

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

FB Marketplace

How did you finance this deal?

Traditional Financing, two mortgages.

How did you add value to the deal?

Turn key, needed to invest about $3,000 total for some small improvements since they had been sitting for a couple years vacant.

What was the outcome?

Great investment! Very happy with the result. 28% Cash on Cash return. Rented all 3 units in 1 month.

Lessons learned? Challenges?

I have since had several issues with the plumbing. Both buildings were built in 1965 so the plumbing is cast iron which has resulted in some management headaches but overall not bad and not too costly.

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

No, I am also a real estate broker.