2 family house hack

[Andres Ospina]

Investment Info:

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

Purchase price: $635,000
Cash invested: $90,000

Bought a house hack. Minor updates, may rent for passive income or sell and reinvest profits into larger multi family

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

Un market value purchase price. Great house hack opportunity with over $100,000k in equity

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

Direct mail marketing with Hand written envelopes. Made a quick offer and asked for seller to pay my closing costs. Agreed to purchase the property as is.

How did you finance this deal?

Conventional 15% down financing as primary residence

How did you add value to the deal?

Bought below market value and made minor updates.

What was the outcome?

Still have it.

Lessons learned? Challenges?

Building relationships with the seller makes negotiations easy.

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

Worked with Walter Gorman from NJ lenders. Best mortgage broker in NJ