Short sale buy and hold

[Dahlia Khalaf]

Investment Info:

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

Purchase price: $150,000
Cash invested: $60,000

Purchased a duplex with an additional garage apt. Property needed everything, replaced roof, installed central hvac, refinished hardwoods, painting throughout, and more.

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

Desirable area, great purchase price for the area and knew it would cash flow really well. Made the updates/repairs needed and has been performing great!

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

Found on mls, it was a short sale and I offered within 30 minutes of being listed and offered full price to ensure I got the deal.

How did you finance this deal?

Commercial financing

How did you add value to the deal?

Many capital improvements, improved appearance inside and out.

What was the outcome?

Great cash flowing property!

Lessons learned? Challenges?

Older property, these tend to come with more surprises but nothing that couldn't be resolved.

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

I am the agent involved.