Updating my profile... figured I'd share this Beauty of a deal!

[Rick Barbato]

Investment Info:

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

Purchase price: $197,000

Owner Occupied Duplex, funded with VA loan. New construction, builder agreed to pay closing cost concessions. Offered asking price in return. Earnest interest was only money out of pocket. My first deal, and maybe my best. Going to be hard to top!

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

Wanted to buy a home, but also knew we wanted to invest in multifamily properties.

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

MSL deal. Little negotiations with new construction. Purchased from builder. Builder paid closing costs and we gave him asking price.

How did you finance this deal?

MLS

How did you add value to the deal?

No value added. But its been almost 10 years now, and we keep it well maintained.

What was the outcome?

Still own this property.

Lessons learned? Challenges?

Not going to pretend this house hack was done on purpose. We almost bought a single family first, with the intent to get a multifamily later. We didn't realize at the time that we would of had to put 25% down on an investment.