First investment property

[Lucas Matacchiero]

Investment Info:

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

Purchase price: $190,000
Cash invested: $150,000

duplex house in the city of Albany

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

It is a house hack, first home purchase

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

I found it through a family friend whos parents had died and they needed to sell the house out of the estate. It was a off market deal.

How did you finance this deal?

traditional loan with 10% down

How did you add value to the deal?

they sold their parents house to someone who was going to fully rehab it. They loved that it would be well taken care of, and we did the deal without agents, so it saved us all money.

Lessons learned? Challenges?

The rehab was imense! I rehabed the entire house, both kicthens, bathrooms, rehabed all the wood flooring, redid all of the electrical, plumbing, paint, roof, basement, new furnaces, hot water heaters, and anything else you can think of.