Owner-Occupied Investment (House Hack - BRRRR)

[Elvis Methoxha]

Investment Info:

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

Purchase price: $820,000
Cash invested: $120,000

Owner-Occupied Investment. Potential for additional cashflow if I rented my unit.

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

Sweat equity and good cashflow opportunity.

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

Self-negotiated, on market.

How did you finance this deal?

FHA

How did you add value to the deal?

Sweat equity mostly in cosmetic renovations, few major renovations.

What was the outcome?

Property bringing in steady cash flow and super low interest rate with FHA.

Lessons learned? Challenges?

Buying in a seller's market is not easy and not cheap.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, I worked with ELVIS METHOXHA! He's licensed in Connecticut and Massachusetts!! He knows properties and has a developer background. Helps a lot when looking at homes. He gives ideas on how much certain items might cost if we see it needs to be renovated. I.e., He counts the number of outdated windows and gives us a local estimate cost, for example, window replacement of $300-350/window.