Speaker Mark Simpson describes reinvesting proceeds from a sale into a distressed duplex in Austin, renovating it, and discovering that small multifamily properties are attractive because one rented unit can cover costs when another is vacant — making a midterm buy-and-hold model unexpectedly lucrative for him.
Funny enough, I sold it, but then I ended up reinvesting it because I had a chance to. I reinvested all that money into a duplex. And it was in the city of Austin, which is, you know, obviously the values are higher, but it was, again, a distressed property that I was able to renovate and make it nice and pretty again. And what really surprised me about that was I love small multifamily, because even if one side's not rented, the other side is still paying for it. And in a midterm model, that can be very lucrative. So that was definitely a good surprise for me.
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