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CASE STUDY

LANDIS DUPLEX
LANDIS, NC
After a year of struggling to obtain financing, we officially entered the rental business in the Spring of 2013. This property was purchased off-market from my first real estate mentors who I've since become great friends with. At the time of purchase, there was one resident renting for $350 per month.
CHALLENGES BEFORE ACQUISITION:
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Below Market Rent
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Minor Exterior and Interior Deferred Maintenance
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50% Vacancy Rate
VALUE PLAYS AFTER ACQUISITION:
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Bought Right by Finding Off Market Deal
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Renovated property with Minor Cosmetic Repairs
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Filled Vacant Unit at Market Rents
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Increased Rent on Existing Unit
RESULTS AT THIS TIME:
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Purchased for $48k
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Increased Rents from $350/mo at Acquisition to $850/mo
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Cash-on-Cash Returns 40%+
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