2nd House Hack- 12 months later.

[Tucker Mortier]

Investment Info:

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

Purchase price: $267,000
Cash invested: $40,000
Sale price: $267,000

Contributors:
Tim Swierczek

Closed on my 2nd deal! I acquired this deal 12 months after purchasing my first house hack- it's another 4/2 duplex. I was able to save enough for the down payment by lowering my housing expense to ~$500/mo through the first house hack and living frugally.
This property is already rehabbed and ready to go, I already rented the top portion out for $1,300 per month. This will make a great buy-and-hold investment and will be a great refinance opportunity with built-in equity when rates go down.

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

This property is already rehabbed and ready to go

How did you finance this deal?

This deal was purchased by the previous owners with the intention to flip it and make a quick sale. The previous owners listed this originally for $300k and with rising interest rates it sat on the market for a few months. I was able to purchase it for $267k with 6% seller paid closing & 15% DP conventional loan through my lender Tim Swierczek and agent Matt Bartholomew.