VA House Hack with a duplex

[Megan Elliott]

Investment Info:

Small multi-family (2-4 units) other investment.

Purchase price: $390,000
Cash invested: $40,000

House hack! Bought a duplex on a VA and live on one side. Plan on making it a rental when we inevitably move in 3 years.

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

The market made it difficult to buy a home when we will move in 3 years. This seemed like a great opportunity to live super cheap, then convert into a great long term rental. Plus, we LOVE the house!

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

Online

How did you finance this deal?

VA Loan 30 year fixed

How did you add value to the deal?

Came with an outstanding tenant!

Lessons learned? Challenges?

Closing in NY takes FOREVER. I was used to NC where 30 days is the normal for closing. This took us 4.5 months....

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

Yes! Terry Howell was great!