Buy and Hold House Hack

[John Woodhouse]

Investment Info:

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

Purchase price: $150,000
Cash invested: $3,000

This if a front and back style duplex I bought when I was 19. I used an FHA loan which made it incredibly cheap to purchase, and had made it so that for the past three years I've almost paid nothing in living expenses! It's been a great property and a great start in my journey of real estate investing.

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

On the MLS. I didn't get many concessions from the seller, but the numbers worked so I pulled the trigger!

How did you finance this deal?

FHA loan

How did you add value to the deal?

I put in about 10-15K updating it after the tenants moved out about a year after I purchased it.

Lessons learned? Challenges?

A realtor that's willing to steer you away from old properties, or bad neighborhoods is a good resource. If I was left to my devices I might've bought some rough property, which might've cut my investment journey short.

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

Cal Ernst with Coldwell was my realtor, Stacy Feldman was my loan originator from Inlanta Mortgage

[Dmitriy Fomichenko]

Thanks for sharing @John Woodhouse !