My First Rehab Four Plex

[Joseph Kneen]

Investment Info:

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

This deal was a combination of the Brrrr strategy and a house hack.

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

I was interested in this property because I noticed it was vacant as well as needing a fair amount of rehab work. I am a contractor so I was able to preform most all of the work required myself. Once work was completed I had quite a bit of equity in the deal as well as decent cash flow.

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

I found this deal driving around on weekends looking for prospects. I contacted the owner and over a period of time arranged the deal.

How did you finance this deal?

HELOC and owner financing.

What was the outcome?

I rehabbed one unit, moved into that unit and rehabbed the rest of the units while living there.