My First House Hack/Investment Property

[Daniel Goerner]

Investment Info:

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

Purchase price: $148,000
Cash invested: $11,000

Duplex, value add house hack

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

I wanted to live on my own for free!

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

On market, my agent helped me negotiate

How did you finance this deal?

Personal funds, FHA loan

How did you add value to the deal?

Replaced unit heating system, repainted, updated electric, refloored

What was the outcome?

Cash flow $500 a month, putting away $500 a month for repairs. The property has appreciated $30,000.

Lessons learned? Challenges?

Have more cash reserves for repairs