Davenpory, IA 4plex Househack

[AJ Smith]

Investment Info:

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

Purchase price: $226,456
Cash invested: $25,000

4plex Townhouse

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

I wanted to purchase my first property right out of college and have others pay for my mortgage, so a 4plex househack was my first choice.

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

MLS. I ended up offering $6k more than listing because I wanted it bad, but it still cashflows very well even after "overpaying".

How did you finance this deal?

100% credit union financing, paid for the rehab myself.

How did you add value to the deal?

Complete Kitchen, Bathroom rehab. Sanded and refinished floors. Paint and new light fixtures.