Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $900
Cash invested: $100,000
My wife and I currently live in a Duplex, and we rent out the other side. We also converted one of the garage spaces into a studio. After living completely for free, we cash flow $1,800 per month.
What made you interested in investing in this type of deal?
This building is great! Traditional duplex but both garages are equipped with kitchenettes. I converted one garage spot into a studio, making it a triplex! In total this building has 5 bedrooms and 7 bathrooms!
How did you find this deal and how did you negotiate it?
It took me 12 months to find this deal. It was listed at $950k, I got it for $900k and negotiated the addition of two kitchenettes.
How did you finance this deal?
10% Down, bought it as a primary residence.
How did you add value to the deal?
Converted one garage into a hipster studio.
