WX DUPLEX

Overview:

This duplex was a mess (Each unit is 3-4 bed/ 1 bath).We had to ask for it to be vacant and we spent about 2-3 months getting it up to par. We are happy with the final product and we should be able to get a nice return with the increased rents. Above are some before and after pictures. 

Numbers on this deal:

Purchase Price- $325,000

Rehab Cost- $30,000

ARV- $410,000-420,000

Rents Before – $900 per unit

Current Rents – $1450 per unit

What I Learned On This Deal:

• Hire as much as you can out (if you don’t have the time to do it). It took us twice as long to do it ourselves and some headache. (Time is Valuable)
• Do your due diligence 
• Get good tenants in your rentals (be patient if needed)

Update:

We sold this property to roll into another project. We ended up selling it for $405,000.