House Hacking near H St

[Jonathan Thomas]

Investment Info:

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

Purchase price: $930,000

House hacking a 4 Unit multifamily in northeast Washington DC. Currently the rents are well under market value so it would not cashflow. I plan on adding value to the property while I live there so that it can cashflow once I move (I'm military and expect to move within 2 years).

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

Listening to the Bigger Pockets podcast then connecting with a good lender. I wouldn't have gotten into multifamily without knowing the full power of the VA loan.

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

I found and negotiated it through my real estate agent.

How did you finance this deal?

VA loan

How did you add value to the deal?

I was able to include enough seller credits to cover closing costs, VA origination fee, all my credit card debt, and still get some back to make immediate repairs and improvements. I'll be landlording while I live there as well.

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

My agent Thaddeus Underwood from Samson Properties and Jane Han of First Heritage Mortgage.