2 Family House Hack (Update)

[Nick Riccio]

Investment Info:

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

Purchase price: $840,000
Cash invested: $185,000

Purchased a two family with 5% down FHA.

Purchased as a 4 bedroom 2 bathroom. Converted to a 7 bedroom and 4 bath two family as we expanded one unit into the basement.

We have officially moved out of this house hack and the total monthly rent roll now is $10,600.

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

The value add opportunity.

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

This was on MLS.

How did you finance this deal?

We financed this deal owner occupied using an FHA loan.

How did you add value to the deal?

Finished the basement living space and updated the rest of the home as well.