Imagine adding $100,000+ in equity in just 1 year while also having above 10% cash on cash return. Well, that's what this duplex rental property investment is shaping out to be! Let's talk about it… – Instagram: @ItsHaydenBowles
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___________________________________________________________________________ Making $100,000 In A SINGLE Real Estate Deal (Full Breakdown) Today I give you a tour of my duplex which was my first multi-family rental property investment. This specific piece of real estate has turned my $108,000 invested into $200,000+ in just 13 months! So this was originally a pretty poorly managed property, with one tenant at $1,200 month to month. The other unit was not livable and needed a decent amount of work. We were able to renovate that for $4,000 then secure a tenant for $1,200. After their lease was up, I renovated it again with some more basic but modern appliances, flooring and finishes, then rented it at current premium market value for $1,500. Fast forward to today, the other unit that was month to month is getting renovations underway due to the first vacancy. It should be a quick turnaround time because we are just copying what we did on the other side. We also have a list of leads who inquired about the other side which is now filled, so it should not take long to secure a tenant! I refinanced the property a few months ago, before either big renovations or rental increases, and the value on there has skyrocketed from $375,000 to $430,000! However with 2 new leases secured at $1,500/m and much nicer units, I am very confident I could get $475,000 for this property, minimum. However I would not sell at that price, not any time soon. This property is over a 10% cash on cash return at those renovated numbers, and it has already been cash flowing pretty well at about a 6% before that. But after this last renovation, it's going to be an absolute cash cow! Definitely super happy with this investment. Drop a LIKE if you enjoyed the video!
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*Disclaimer* I am not in any way a certified financial advisor, nor do I pretend to be one. Any information or advice I give you on any social media platform is simply my opinion based my own own experience and research. There is no guarantee on anything due to the fact that there are many variables in your success.