House Hacking in Portland, OR

[Zac Lindquist]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $400,000
Cash invested: $20,000

My wife and I purchased this property and our house hacking journey began! Fast forward 3 years since purchasing and we are now planning to sell it in April of 2022 due to the crazy appreciation and invest out of state.

What made you interested in investing in this type of deal?

It was a great opportunity for us to buy our own property which saved us $400/month on our monthly expenses, have appreciation and principal pay down along with the benefit of tax advantages!

How did you find this deal and how did you negotiate it?

On the MLS and we used an agent to help us find the deal.

How did you finance this deal?

We used an FHA loan which is my favorite lending product! Without it, who knows when we would have started investing.

How did you add value to the deal?

We have become very proficient landlords and installed great screening requirements to give us the best odds at having great tenants. In the 3 years we have owed the property, not one rent payment has been missed!

What was the outcome?

The appreciation has skyrocketed in this market! We are planning to sell and use the equity to scale quicker!

Lessons learned? Challenges?

Have a great lease from the start and always stick to it if a tenant is trying to go outside of it for any reason.